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

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Author Info

  • David Martimort
  • Wilfried Sand-Zantman

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 freeriding 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.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 46 (2013)
Issue (Month): 2 (May)
Pages: 361-378

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Handle: RePEc:cje:issued:v:46:y:2013:i:2:p:361-378

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References

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  1. Baliga, Sandeep & Maskin, Eric, 2003. "Mechanism design for the environment," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 1, chapter 7, pages 305-324 Elsevier.
  2. CHANDER, Parkash & TULKENS, Henry, 1994. "A Core-Theoretic Solution for the Design of Cooperative Agreements on Transfrontier Pollution," CORE Discussion Papers 1994048, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. CHANDER, Parkash & TULKENS, Henry, 1995. "The Core of an Economy with Multilateral Environmental Externalities," CORE Discussion Papers 1995050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Martimort, David & Sand-Zantman, Wilfried, 2011. "A Mechanism Design Approach to Climate Agreements," IDEI Working Papers 682, Institut d'Économie Industrielle (IDEI), Toulouse, revised 30 Apr 2013.
  5. Guillaume CHEIKBOSSIAN & Wilfried SAND-ZANTMAN, 2011. "Dynamic Cooperation in Local Public Goods Supply with Imperfect Monitoring," Annales d'Economie et de Statistique, ENSAE, issue 101-102, pages 327-346.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Taking care of free-riders in global warming policies
    by Economic Logician in Economic Logic on 2012-11-14 15:26:00
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Cited by:
  1. Ngo Van Long, 2014. "The Green Paradox in Open Economies," CESifo Working Paper Series 4639, CESifo Group Munich.

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