Preface 1. Introduction, by Graciela Chichilnisky and Geoffrey Heal 2. Markets for Tradable Carbon Dioxide Emission Quotas: Principles and Practice, by Graciela Chichilnisky and Geoffrey Heal 3. Equity and Efficiency in Environmental Markets: Global Trade in Carbon Dioxide Emissions, by Graciela Chichilnisky, Geoffrey Heal, and David Starrett 4. Emissions Constraints, Emission Permits, and Marginal Abatement Costs, by Geoffrey Heal 5. Equilibrium and Efficiency: International Emission Permits Markets, by Geoffrey Heal and Yun Lin 6. Efficiency Properties of a Constant-Ratio Mechanism for the Distribution of Tradable Emission Permits, by Andrea Prat 7. Who Should Abate Carbon Emissions? An International Viewpoint, by Graciela Chichilnisky and Geoffrey Heal 8. Differentiated or Uniform International Carbon Taxes: Theoretical Evidences and Procedural Constraints, by Jean-Charles Hourcade and Laurent Gilotte 9. Efficiency and Distribution in Computable Models of Carbon Emission Abatement, by Joaquim Oliveira Martins and Peter Sturm 10. Securitizing the Biosphere, by Graciela Chichilnisky and Geoffrey Heal 11. Equity and Efficiency in Emission Markets: The Case for an International Bank for Environmental Settlements, by Graciela Chichilnisky 12. The Clean Development Mechanism: Unwrapping the "Kyoto Surprise',' by Jacob Werksman 13. Knowledge and the Environment: Markets with Privately Produced Public Goods, by Graciela Chichilnisky 14. A Commentary on the Kyoto Protocol, by Raul Estrada-Oyuela Appendix. The Kyoto Protocol of the United Nations Framework Convention on Climate Change List of Contributors Index