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Water in KentuckyNatural History, Communities, and Conservation$
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Brian D. Lee, Daniel I. Carey, and Alice L. Jones

Print publication date: 2017

Print ISBN-13: 9780813168685

Published to Kentucky Scholarship Online: January 2018

DOI: 10.5810/kentucky/9780813168685.001.0001

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PRINTED FROM KENTUCKY SCHOLARSHIP ONLINE (www.kentucky.universitypressscholarship.com). (c) Copyright The University Press of Kentucky, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in KSO for personal use.date: 26 July 2021

Using Market-Based Tools to Protect and Improve Water Quality in Kentucky

Using Market-Based Tools to Protect and Improve Water Quality in Kentucky

Chapter:
(p.223) Chapter Twenty-two Using Market-Based Tools to Protect and Improve Water Quality in Kentucky
Source:
Water in Kentucky
Author(s):

Wuyang Hu

Publisher:
University Press of Kentucky
DOI:10.5810/kentucky/9780813168685.003.0022

Market-based tools are first suggested in the 1960s considering how society could achieve long-term reductions in pollution without causing an undue burden on the economy. Instead of the government imposes controls (i.e., limiting the right to pollute), market incentives governed by economic principles could be used to guide individual players’ behavior. One of the strategies is to let polluters reallocate the pollution they generate among themselves, or in other words, they decide who actually does the pollution abatement. Those with high costs pollute more (abate less) and those with low costs pollute less (abate more). This type of reallocating through trading could save large amounts of money.

Keywords:   Abatement Cost, Market, Nonpoint Source, Point Source, Water Quality

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