A System of Waste Discharge Rights for the Management of Water Quality

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Abstract
Water quality management based on water quality standards and required waste treatment levels has serious informational and administrative problems. An alternative management system of marketable rights to change water quality is analyzed to stimulate a search for improved management tools. Such a system of rights can (1) simplify the problems in existing management systems of new discharger entry into a region, (2) incorporate the economic efficiency of the ‘effluent charge’ system and the regional management approach, and (3) provide a mechanism for government or the private sector to adjust the quality of water without creating serious economic penalties for other parties discharging waste or requiring high water quality. A marketable right to discharge waste into a specified area of water subject to the observance of a water quality standard at the boundaries of that area is proposed. Utilities would compete for major rights, whereas individuals would purchase minor rights from a utility. The utility would provide control of waste discharges that impact only segments of a body of water and an institution that could shift water quality above the standard.

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