Journal Article

The Tradable-Permits Approach to Protecting the Commons: Lessons for Climate Change

Tom Tietenberg

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 19, issue 3, pages 400-419
Published in print September 2003 | ISSN: 0266-903X
Published online September 2003 | e-ISSN: 1460-2121 | DOI: http://dx.doi.org/10.1093/oxrep/19.3.400
The Tradable-Permits Approach to Protecting the Commons: Lessons for Climate Change

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Tradable-permit approaches for rationing access to the commons have been applied to many different types of resources in many different countries. This essay reviews the experience with three main applications of tradable-permit systems—air-pollution control, water supply, and fisheries management—as well as some unique related programmes. The purpose of the review is to draw together what we have learned about tradable permits in practice that might offer some useful insights for the implementation of the three tradable-permit mechanisms that are part of the Kyoto Protocol.

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Subjects: Economic Development and Growth ; Public Economics ; Political Economy ; Public Policy

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