Lessons Learned from Three Decades of Experience with Cap-and-Trade
NBER Working Paper No. 21742
This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions trading programs that have been implemented or proposed are included
Document Object Identifier (DOI): 10.3386/w21742
Published: Richard Schmalensee & Robert N. Stavins, 2017. "Lessons Learned from Three Decades of Experience with Cap and Trade," Review of Environmental Economics and Policy, vol 11(1), pages 59-79.
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