44, 444] first challenged this consensus a decade ago, demonstrating that, in general, efficiency does not require equalizing marginal abatement costs. This note revisits that important debate. It provides the missing intuition behind Chichilnisky and Heal’s surprising result, explains what critical assumption gives rise to their result, and clarifies the role a social welfare function plays in their model. The implications of Chichilnisky and Heal’s result are increasingly important, given international debate over the preferential role given to developing countries in the Kyoto Protocol and the role those countries will play in future climate negotiations. Copyright Springer Science+Business Media, Inc. 2006
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 35 (2006)
Issue (Month): 2 (October)
Pages: 89-98
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Keywords: Climate changes; Kyoto Protocol; emissions trading; equity; efficiency; Q20; H40; References listed on IDEAS
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- Donald J. Brown & Geoffrey M. Heal, 1978.
"Equity, Efficiency and Increasing Returns,"
Cowles Foundation Discussion Papers
504, Cowles Foundation, Yale University.
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- Brown, Donald J & Heal, Geoffrey, 1979.
"Equity, Efficiency, and Increasing Returns,"
Review of Economic Studies,
Blackwell Publishing, vol. 46(4), pages 571-85, October.
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- Anthoff, David, 2009.
"Optimal Global Dynamic Carbon Taxation,"
Papers
WP278, Economic and Social Research Institute (ESRI).
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- Snorre Kverndokk & Adam Rose, 2008.
"Equity and Justice in Global Warming Policy,"
Working Papers
2008.80, Fondazione Eni Enrico Mattei.
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Other versions: - Loek Groot, 2008.
"Carbon Lorenz Curves,"
Working Papers
08-33, Utrecht School of Economics.
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