What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading
从1990年《清洁空气法》修正案建立的二氧化硫配额交易项目中提炼经验教训，分析其被采纳的政治经济原因，并探讨其结构与绩效对未来市场导向环境政策设计的启示。
The most ambitious application ever attempted of a market-based approach to environmental protection has been for the control of acid rain under the Clean Air Act amendments of 1990, which established a sulfur dioxide allowance trading program. This essay identifies lessons that can be learned from this grand experiment in economically oriented environmental policy. The author examines positive political economy lessons, asking why this system was adopted from acid-rain control in 1990, and he considers normative lessons that can be learned from the program's structure and performance, focusing on lessons for the design and implementation of future systems.