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National Center for Environmental Economics
Environmental Economics Reports
The study examines the effects of emission averaging for light-duty gasoline-powered vehicles. Detailed analyses were performed for four major averaging programs: (1) simple averaging, in which each manufacturer's fleet must meet the standards on average, (2) trading, in which manufacturers may purchase or sell emission credits among one another, (3) banking, in which credits or debits are exchanged between model years, and (4) a combination of trading and banking. The analyses were based on mathematical modeling of a set of cost versus emission functions. Tables are presented showing the emission control cost reductions compared to the then existing system for each of the programs analyzed.
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