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Title

Solving the global warming problem: beyond markets, simple mechanisms may help!

Publication Year

2013

Author(s)
  • Martimort, David
  • Sand-Zantman, Wilfried
Source
CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE Volume: 46 Issue: 2 Pages: 361-378 Published: 2013
ISSN
0008-4085 eISSN: 1540-5982
Abstract

This paper discusses the feasibility and performances of simple mechanisms to implement international environmental agreements in the multilateral externalities context of global warming. Asymmetric information and voluntary participation by sovereign and heterogeneous countries are key constraints on the design of those agreements. Mechanisms must prevent two sorts of free-riding problems-free riding in effort provision and free riding in participation. As markets might fail to solve simultaneously those two problems, we construct instead a simple menu of options that trades off the provision of incentives for participating countries and the provision of incentives to participate. With such a mechanism, all countries voluntarily contribute to a fund, although at different intensities, but only the most efficient ones effectively reduce their pollution below its `business as usual' level.

Author Keyword(s)
    KeyWord(s) Plus
      ESI Discipline(s)
      • Economics & Business
      Web of Science Category(ies)
      • Economics
      Adress(es)

      [Martimort, David] Paris Sch Econ EHESS, Paris, France; [Sand-Zantman, Wilfried] GREMAQ IDEI, Toulouse Sch Econ, Toulouse, France

      Reprint Adress

      Martimort, D (reprint author), Paris Sch Econ EHESS, Paris, France.

      Country(ies)
      • France
      CNRS - Adress(es)
      • Groupe de recherche en économie mathématique et quantitative (GREMAQ), UMR5604
      Accession Number
      WOS:000330179400001
      uid:/1PMR83SN
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