Tradable Permit System

Consider three possible areas for applying a tradable permit system: Runoff of nitrates in the Mississippi River basin (see (Links to an external site.) for more detail) Mercury emissions from coal-fired power plants (see (Links to an external site.) – the current plan is to set a standard for mercury) Shrimp, an important natural resource found in the waters off the coast of South Carolina (see (Links to an external site.) for background on shrimp in South Carolina) Which of these do you think presents the greatest opportunity from shifting from a standard based regulation to a tradable permit system and why? Describe briefly how such a system might work in this case, including who would get permits, the size of net benefits from controlling emissions (or overharvesting in the case of shrimp) resulting from a more cost effective regulation, and what you think the greatest challenge to implementing such a system might be. Present your ideas in about 350-400 words.

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