On Tuesday April 15, 2008 retiring Professor Tom Tietenberg gives the Grossman Lecture on Emissions Trading: The Evolution of an Economic Idea from Concept to Global Implementation. Over the last thirty plus years the use of transferable permits to control pollution has evolved from little more than an academic curiosity to the centerpiece of the US program to control greenhouse gases. In this lecture, Tom Tietenberg, one of the key people involved in this transformation, describes how this policy approach has evolved over time, assess some of its key strengths and weaknesses and shares some specific lessons on policy design and effectiveness that emerge from our experience with it.

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