Article2011

An Ex Post Evaluation of Ohio’s Great Miami Water Quality Trading Program1

David Allen Newburn · Richard T. Woodward

57 citations0/0 files storedJAWRA Journal of the American Water Resources Association

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Socioeconomics of Resources and Conservation Water resources management and optimization Soil and Water Nutrient Dynamics

Abstract

Newburn, David A. and Richard T. Woodward, 2011. An Ex Post Evaluation of Ohio’s Great Miami Water Quality Trading Program. Journal of the American Water Resources Association (JAWRA) 48(1): 156‐169. DOI: 10.1111/j.1752‐1688.2011.00601.x Abstract: Market‐based approaches to address water quality problems have resulted in only limited success, especially in trading programs involving both point and nonpoint sources. We analyze one of the largest point‐nonpoint trading programs – the Great Miami Trading Program in Ohio, administered by the Miami Conservancy District (MCD). Our evaluation focuses on the economic and institutional aspects of the program, including cost effectiveness, efficiency of bidding, transaction costs, trading ratios, and innovation. We use a unique dataset consisting of all bids from agricultural nonpoint sources and interviews of soil and water conservation district (SWCD) agents in the watershed. We find that the MCD’s reliance on county‐level SWCD offices to recruit and advise farmers has been essential to achieve relatively high rates of farmer participation. Additionally, the MCD is able to partly free ride on the administrative costs that SWCD offices receive to assist federal conservation programs, which is helpful to lower costs for a fledgling trading program. However, the involvement of SWCD offices reduced the potential cost savings from the reverse auction structure because some agents were able to learn about the threshold price over the six rounds of bidding and help farmers bid strategically. Overall, the program structure serves as an effective model for future trading programs in other regions that seek to involve agricultural nonpoint sources.

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1972Markets in licenses and efficient pollution control programs 2024USEPA United States Environmental Protection Agency 1998What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading 1969Pollution, Property, and Prices 1997Auctioning Conservation Contracts: A Theoretical Analysis and an Application 1989Marketable Permits: Lessons for Theory and Practice 1993Point/Nonpoint Source Trading of Pollution Abatement: Choosing the Right Trading Ratio 2005Trust and Communication: Mechanisms for Increasing Farmers' Participation in Water Quality Trading

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