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On international compensations for environmental stocks

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  • Stähler, Frank

Abstract

This paper sheds some light on the possible implications of compensations which are paid for the maintenance of an environmental stock. It shows that serious complications can arise if the resource-owner can vary the compensation price. In that case, extraction-driven stock preservation policies can conflict with compensation-driven ones and imply instability. Whether compensation policies can neglect this aspect depends crucially on the credibility of sticky compensation prices.

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 580.

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Date of creation: 1993
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Handle: RePEc:kie:kieliw:580

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References

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  1. Mohr, Ernst, 1993. "Sustainable development and international distribution: Theory and application to rainforests as carbon sinks," Kiel Working Papers 602, Kiel Institute for the World Economy.
  2. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May.
  3. Henk Folmer & Pierre Mouche & Shannon Ragland, 1993. "Interconnected games and international environmental problems," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(4), pages 313-335, August.
  4. William D. Nordhaus, 1973. "The Allocation of Energy Resources," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 529-576.
  5. Dasgupta,P. S. & Heal,G. M., 1985. "Economic Theory and Exhaustible Resources," Cambridge Books, Cambridge University Press, number 9780521297615, April.
  6. Nunnenkamp, Peter, 1992. "International financing of environmental protection: North-South conflicts on concepts and financial instruments and possible solutions," Kiel Working Papers 512, Kiel Institute for the World Economy.
  7. Mohr, Ernst & Thomas, Jonathan, 1993. "Pooling sovereignty risks: The case of environmental treaties and international debt," Kiel Working Papers 568, Kiel Institute for the World Economy.
  8. Friedman, James W, 1971. "A Non-cooperative Equilibrium for Supergames," Review of Economic Studies, Wiley Blackwell, vol. 38(113), pages 1-12, January.
  9. Stahler, Frank, 1994. "Biological diversity: The international management of genetic resources and its impact on biotechnology," Ecological Economics, Elsevier, vol. 11(3), pages 227-236, December.
  10. Stähler, Frank, 1992. "Pareto improvements by in-kind-transfers," Kiel Working Papers 541, Kiel Institute for the World Economy.
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Cited by:
  1. Ollivier, Hélène, 2012. "Growth, deforestation and the efficiency of the REDD mechanism," Journal of Environmental Economics and Management, Elsevier, vol. 64(3), pages 312-327.
  2. Oliver Deke, 2004. "Financing National Protected Area Networks Internationally � The Global Environment Facility as a Multilateral Mechanism of Transfer," Kiel Working Papers 1227, Kiel Institute for the World Economy.
  3. Anders Skonhoft & Wenting Chen, 2011. "On the management of interconnected wildlife populations," Working Paper Series 12311, Department of Economics, Norwegian University of Science and Technology.

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