Marketable Rights: A Practical Guide to the Use of Marketable Rights as a Regulatory Alternative

摘要

Marketable rights are government-issued permits that can be bought and sold. Making permits tradeable creates an important new incentive, in contrast to 'command-and-control' regulation. Marketable rights have found diverse applications, including land development, natural resources, pollution, and taxi operations. This report contains a discussion of definitions, advantages, disadvantages, costs, and benefits of marketable rights; case studies of marketable rights systems in use; and an annotated bibliography.