Emissions Trading in Practice

Lessons learnt from the European emissions trading scheme

Authored by: Regina Betz

The Routledge Handbook of Environmental Economics in Asia

Print publication date:  March  2015
Online publication date:  February  2015

Print ISBN: 9780415656450
eBook ISBN: 9781315746289
Adobe ISBN: 9781317597872


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Economists have developed a large body of theoretical literature on the advantages of emissions trading schemes (ETSs) over other mechanisms such as regulations. 1 ETSs particularly are lauded as being effective and efficient, as they are theoretically able to achieve a given environmental goal at least cost. However, the real world is more complex than usually assumed in textbooks. How an ETS will actually work in practice, therefore, is difficult to predict.

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