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.


Suggested citation: Schmalensee, R., R. N. Stavins, (2015), ‘Technology Invention and Diffusion in Residential Energy Consumption. A Stochastic Frontier Approach’ , Nota di Lavoro 107.2015, Milan, Italy: Fondazione Eni Enrico Mattei