Environmental protection mechanisms and technological dynamics
AbstractThe paper proposes a new financial mechanism that could be implemented to protect the environment of a tourist region. For this purpose, we investigate the potential consequences of two financial activities, issued by the local government (G) of a region R, which work like contracts between G and, respectively, visitors of R and firms operating in R. According to these contracts, agents who decide to visit R (firms that decide to adopt an environmental friendly technology) have to buy an option that entitle them to get a partial or total reimbursement if environmental quality in R turns out to be sufficiently low (high), namely, below (above) a given predetermined threshold level.
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Bibliographic InfoArticle provided by Elsevier in its journal Economic Modelling.
Volume (Year): 29 (2012)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/30411
Environmental protection; Financial instruments; Technological innovation; Evolutionary dynamics;
Other versions of this item:
- Antoci, Angelo & Borghesi, Simone & Russu, Paolo, 2011. "Environmental protection mechanisms and technological dynamics," MPRA Paper 36597, University Library of Munich, Germany.
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
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