Time-Inconsistent Domestic Environmental Policies and Optimal International Environmental Arrangements
Abstract
We employ the standard pollution control incorporating countries' asymmetries, not only in their consumption and environmental concerns, but also in their environmental technologies. First, we show that the absence of international collaboration makes domestic environmental policies discretionary and may result in a time-inconsistent outcome. Then, we compare two cooperative regimes: the international environmental agreement (IEA) and the central environmental authority (CEA). In certain conditions, IEAs may not be more efficient than CEAs in pollution abatement. Furthermore, although the IEA Pareto-dominates the CEA, the success of IEAs may be hampered by conflicts of interest among the signatories.Download Info
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Bibliographic Info
Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 163 (2007)
Issue (Month): 4 (December)
Pages: 731-758
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Web page: http://www.mohr.de/jite
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Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
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Related research
Keywords:Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- F18 - International Economics - - Trade - - - Trade and Environment
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