ABSTRACT
The analysis begins with a statement of the proposed environmental policy (e.g., required catalytic converters on automobiles, and inspection and maintenance (I/M) policy, cap-and-trade limits on effluent or emissions, required taller smokestacks, limestone scrubbers or baghouses on power plants, etc.). There might be several alternative approaches to dealing with the environmental quality dimension of concern and that number must be narrowed down with rough cost and benefit estimates before focusing more seriously on one or more policies with the most promise.
