Regulation of aviation's contribution to the global problem of climate change is increasingly likely in the near term, but the method agreed upon by most economists-a multi-sectoral market-based approach such as a cap and trade system-is opposed by industry stakeholders. An efficient...

The economic cost of reducing greenhouse gas (GHG) emission is an important policy consideration. As public awareness of climate change consequences increase, there is increased political support for greenhouse gas emission controls. However, there are disagreements over the intensity of...

The Emission Trading Scheme (ETS) is a cornerstone for European efforts to reduce greenhouse gas emissions, and in its test phase will operate from 2005-2007. It is a cap-and-trade system where an aggregate cap on emissions is set by the respective government agencies to define the total number...