Markets for clean air: the U.S. acid rain program

Market-based experiment

A political history of federal acid rain legislation

The political economy of allowance allocations

The pre-1995 trend in SO₂ emissions

Title IV compliance and emission reductions, 1995-97

Emissions trading: the effect on abatement behavior

Emissions trading: development of the allowance market

Title IVs voluntary compliance program

Cost of compliance with title IV in phase I

Cost savings from emissions trading

Errors, imperfections, and allowance prices

Concluding observations.