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Stable International Environmental Agreements: An Analytical Approach

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  • EFFROSYNI DIAMANTOUDI
  • EFTICHIOS S. SARTZETAKIS

Abstract

In this paper we examine the formation of international environmental agreements (IEAs). We show that the welfare of the signatories does not increase monotonically with respect to the number of signatories. We provide an analytical solution of the leadership model. In particular, we find that if the number of countries is greater than four then there exists a unique stable IEA with either two, three, or four signatories. Furthermore, we show that the welfare of the signatories is almost at its lowest level when the IEA is stable. While in our model each country's choice variable is emissions, we extend our results to the case where the choice variable is abatement efforts. Copyright 2006 Blackwell Publishing Inc..

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Article provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.

Volume (Year): 8 (2006)
Issue (Month): 2 (05)
Pages: 247-263

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Handle: RePEc:bla:jpbect:v:8:y:2006:i:2:p:247-263

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  1. Ray, D. & Vohra, R., 1996. "A Theory of Endogenous Coalition Structure," Papers, Boston University - Industry Studies Programme 68, Boston University - Industry Studies Programme.
  2. Michael Hoel & Kerstin Schneider, 1997. "Incentives to participate in an international environmental agreement," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 9(2), pages 153-170, March.
  3. Ioannidis, Alexis & Papandreou, Andreas & Sartzetakis, Eftichios, 2000. "International Environmental Agreements: a Literature Review," Cahiers de recherche, GREEN 0008, GREEN.
  4. S. De Cara & Gilles Rotillon, 2003. "Multigreenhouse gas international agreements," THEMA Working Papers 2003-13, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  5. Carraro, Carlo & Siniscalco, Domenico, 1991. "Strategies for the International Protection of the Environment," CEPR Discussion Papers, C.E.P.R. Discussion Papers 568, C.E.P.R. Discussion Papers.
  6. CHANDER, Parkash & TULKENS, Henry, 1995. "The Core of an Economy with Multilateral Environmental Externalities," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1995050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Barrett, Scott, 1994. "Self-Enforcing International Environmental Agreements," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 878-94, Supplemen.
  8. Bloch, Francis, 1996. "Sequential Formation of Coalitions in Games with Externalities and Fixed Payoff Division," Games and Economic Behavior, Elsevier, Elsevier, vol. 14(1), pages 90-123, May.
  9. Claude d'Aspremont & Alexis Jacquemin & Jean Jaskold Gabszewicz & John A. Weymark, 1983. "On the Stability of Collusive Price Leadership," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 16(1), pages 17-25, February.
  10. Carraro, Carlo & Siniscalco, Domenico, 1998. "International Institutions and Environmental Policy: International environmental agreements: Incentives and political economy1," European Economic Review, Elsevier, Elsevier, vol. 42(3-5), pages 561-572, May.
  11. Hanley, Nick & Shogren, Jason, 2007. "Introduction," Journal of Forest Economics, Elsevier, Elsevier, vol. 13(2-3), pages 73-74, August.
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