Lessons Learned from Three Decades of Experience with Cap-and-Trade

26 Pages Posted: 23 Nov 2015 Last revised: 4 Dec 2015

See all articles by Richard Schmalensee

Richard Schmalensee

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Robert N. Stavins

Harvard University - Harvard Kennedy School (HKS); Resources for the Future; National Bureau of Economic Research (NBER)

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Date Written: November 2015

Abstract

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, Richard and Stavins, Robert N., Lessons Learned from Three Decades of Experience with Cap-and-Trade (November 2015). NBER Working Paper No. w21742. Available at SSRN: https://ssrn.com/abstract=2694409

Richard Schmalensee (Contact Author)

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

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Robert N. Stavins

Harvard University - Harvard Kennedy School (HKS) ( email )

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