Elsevier

Journal of Economic Theory

Volume 5, Issue 3, December 1972, Pages 395-418
Journal of Economic Theory

Markets in licenses and efficient pollution control programs

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Parts of this article appeared in my Ph.D. dissertation “Market Systems for the Control of Air Pollution,” submitted to the Department of Economics at Harvard University in May, 1971. Research on this thesis was partly supported under Grant No. AP-00842 from the Environmental Protection Agency to Walter Isard. I am also indebted to Kenneth Arrow and James Quirk for valuable advice. Needless to say, all errors are solely the responsibility of the author.

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