The authors’ 15 years of experience with the Acid Rain Program suggests that for regional or larger-scale air pollution problems, such as acid rain and pollution transport, a well-designed cap-and-trade program can be cost-effective, flexible, and easy to implement with clear benefits that can be sustained into the future.

• The U.S. Acid Rain Program: Key Insights from the Design, Operation, and Assessment of a Cap-and-Trade Program (PDF)(12 pp, 1 MB, September, 2007)