Cap-and-Trade Policy Challenges: A Tale of Three Markets
考察了二氧化硫配额、渔业配额和水权三个总量控制与交易项目，分析了设计中的政策权衡，包括公平性、资源平衡、交易效率等，对政策制定者和环境经济学者有参考价值。
Cap-and-trade policy instruments have been applied to a number of environmental problems, with varying success. This article examines cap-and-trade programs for SO2 allowances, fishery quotas, and water rights. Design and implementation of cap-and-trade mechanisms involves challenging policy tradeoffs: accommodating equity concerns, balancing use levels with resource conditions, facilitating transactions, accounting for externalities, assuring adequate monitoring, and documenting welfare gains. Efficient trading mechanisms are more readily implemented when there is a strong political or legal mandate to cap resource use and trades are perceived as a means to ease adjustment to use limits.