English, Article, Journal or magazine article edition: Pareto-efficient climate agreements Geir B. Asheim and Bjart Holtsmark

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Bookmark: http://trove.nla.gov.au/version/41261
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Pareto-efficient climate agreements
Author
  • Geir B. Asheim and Bjart Holtsmark
Physical Description
  • preprint
Notes
  • Recent contributions show that climate agreements with broad participation can be implemented as weakly renegotiation-proof equilibria in simple models of greenhouse gas abatement where each country has a binary choice between cooperating (i.e., abate emissions) or defecting (no abatement). Here we show that this result carries over to a model where countries have a continuum of emission choices. Indeed, a Pareto-efficient climate agreement can always be implemented as a weakly renegotiation-proof equilibrium, for a sufficiently high discount factor. This means that one need not trade-off a “narrow but deep” treaty with a “broad but shallow” treaty.
  • Climate; non-cooperative game-theory; repeated games; weakly renegotiation-proof agreements
  • RePEc:ssb:dispap:505
Language
  • English
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