Lessons Learned from Three Decades of Experience with Cap-and-Trade
Q540, Q580, Q400, Q480
Market-based Instruments, Cap-and-trade, Leaded Gasoline Phasedown, Clean Air Act Amendments of 1990, Sulfur Dioxide, Acid Rain, Carbon Dioxide, Global Climate Change, European Union Emissions Trading System
Climate Change and Sustainable Development
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