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Moving to Markets in Environmental RegulationLessons from Twenty Years of Experience$
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Jody Freeman and Charles D. Kolstad

Print publication date: 2006

Print ISBN-13: 9780195189650

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780195189650.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 February 2020

 Subsidies! The Other Incentive‐Based Instrument: The Case of the Conservation Reserve Program

 Subsidies! The Other Incentive‐Based Instrument: The Case of the Conservation Reserve Program

Chapter:
(p.230) 9 Subsidies! The Other Incentive‐Based Instrument: The Case of the Conservation Reserve Program
Source:
Moving to Markets in Environmental Regulation
Author(s):

Hongli Feng

Catherine Kling

Lyubov Kurkalova

Silvia Secchi

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195189650.003.0009

This essay studies a very large and important example of an environmental subsidy program — the Conservation Reserve Program (CRP). The CRP was introduced in 1985. It investigates how much less efficient, if any, a command-and-control (CAC) form of regulation would have been. That is, it seeks to assess the policy as implemented relative to a fundamentally different form of regulation — CAC. It then studies the ex post performance of this incentive-based instrument. In so doing, it provides information on the degree to which market-based incentive programs, as they have actually been implemented, have or have not lived up to the original optimism with which economists viewed such instruments.

Keywords:   environmental subsidy program, environmental policy, command and control policy, market-based incentive programs

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