When abatement costs are uncertain, but correlated, and a country becomes pri-vately informed that costs are low, then unilateral actions serve as a signalling devise to reveal low costs and unilateral actions have the potential to trigger positive responses abroad. However, the country engaging in unilateral actions is the one with the highest expectation about the other countries’ reactions, and it might suffer from an effect like the winners curse.
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Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number
40/03.
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 D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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