Rhetoric and Reality of Water Quality Trading and the Potential for Market-like Reform

Many public interest groups, government agencies, and professional economists argue that current approaches to water quality trading are a cost-effective, politically practical innovation for achieving water quality standards, in part by addressing one of the most difficult water quality improvement...

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Bibliographic Details
Published in:Journal of the American Water Resources Association 2011-02, Vol.47 (1), p.15-28
Main Authors: Stephenson, Kurt, Shabman, Leonard
Format: Article
Language:English
Subjects:
Environmental policy
market-like
Nonpoint source pollution
point and nonpoint pollution
Reforms
Rhetoric
trading
water policy
Water quality
water quality economics
Water resources management
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Summary:Many public interest groups, government agencies, and professional economists argue that current approaches to water quality trading are a cost-effective, politically practical innovation for achieving water quality standards, in part by addressing one of the most difficult water quality improvement challenges -- limiting the discharge from nonpoint sources. A critical analysis shows that these claims for current water quality trading programs are often unrealized. This rhetoric, without adherence to principles of market-like reform, can undermine the support of regulated parties for meaningful water quality policy reform, contribute to missed opportunities to implement cost-effective programs, and postpone successfully meeting the challenge of limiting nonpoint source discharges. A better understanding and application of market-like principles can result in an improved design of trading as well as general water quality management programs. [PUBLICATION ABSTRACT]
ISSN:1093-474X
1752-1688
DOI:10.1111/j.1752-1688.2010.00492.x