Both Barrett (1991) and Hoel (1991) show that uniform solutions cannot guarantee that the IR constraint is satisfied. This drawback of uniform solutions dramatically reduces feasibility of uniform solutions. However, when uniform reductions are property specified, this conclusion is no longer valid. Compared to Barrett (1991), which proposes a uniform absolute reduction, this paper proposes uniform solutions that are defined as equal percentage reduction compared to some pre-agreement reduction level, in accordance with real world specification. For such a specification, uniform solutions that satisfy IR will always exist, establishing a new, and more positive, view upon uniform solutions.
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Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number
20/01.
Find related papers by JEL classification: Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy H4 - Public Economics - - Publicly Provided Goods H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
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Urs Steiner Brandt & Gert Tinggaard Svendsen, 2001.
"Hot air in Kyoto, cold air in The Hague,"
Working Papers
22/01, University of Southern Denmark, Department of Environmental and Business Economics.
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