The cost-effectiveness of the Kyoto Protocol and any similar non-global treaty would be enhanced by attracting as many new countries as possible to integrational emissions trading and achieving these additions as soon as possible. This paper focuses on two forms of compensation that can be used...

In discussions about the policy design of domestic emission trading, e.g., when implementing the <p> Kyoto Protocol, the two permit allocation alternatives ­ auctioning and allocation gratis <p> (grandfathering) ­ are often pitted against each other as representing utopian cost-effectiveness and <p>...</p></p></p>

This paper discusses ways in which the next climate agreement ­ a renegotiated <p> Kyoto Protocol or a second-period agreement ­ can be made more cost-effective. The <p> discussion focuses on the design of international emissions trading to facilitate early <p> participation by developing countries....</p></p></p>