The Cap and Trade System
{"Image DocumentName": "The Cap and Trade System", "Image ImageDescription": "If \u00abindependence property\u00bb, holds, efficient allocation regardless of initial allocation of permits. Worked well in US Clean Air Act of 1990 as SO2 emissions were cut in half in the US with distribution of \u2018bonus allowances\u2019 to get bi-partisan support. Costs decreased by 50% relative to pure cap. Has not worked well internationally with fight over rents in the EU ETS (and proposed regulation on emissions from airplanes)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}