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Faculty Research Working Paper Series
Robert N. Stavins
Albert Pratt Professor of Business and Government
phone: (617)495-1820
Lessons Learned from Three Decades of Experience with Cap-and-Trade
Schmalensee, Richard, and Robert N. Stavins. "Lessons Learned from Three Decades of Experience with Cap-and-Trade." HKS Faculty Research Working Paper Series RWP15-069, 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.
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