Hi, everyone in this community. This is Satoshi, the guy who established this thread (Sorry, I can't type in Japanese now).
As I introduced myself a couple of months before, I have been writing my capstone thesis on Regional Greenhouse Gas Initiative (RGGI). Especially since when I wrote in this thread, I've been focusing on how we could best invest revenues from allowances auction to further achieve the goal of RGGI. It's a very interesting, politically hot topic, 'cause a lot of interest groups are looking for the pie now in Capitol Hill to get better off.
Anyho, I uploaded my current draft on the following website. Of course, everything is written in English, but I would really like you to read it if you have some time. Due to the limited space of papers, I reduced the number of pages to 50 or so, but originally it was more than 100-pages long. I think it suggests a lot for the future discussion of the federal level of cap-and-trade (of course, with auctioning system). I'll keep fixing some typos and grammatical mistakes, but the basic framework of this thesis wouldn't change much.
http://www.divshare.com/download/4424321-6c5
I hope Japan also introduce a "mandatory" cap-and-trade system, rather than a voluntary approach, because obviously, unless there is no positive economic incentive for business, they won't join it.