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The Economics of Mitigation Strategies

In: Environmental Finance and Investments

Author

Listed:
  • Marc Chesney

    (University of Zurich)

  • Jonathan Gheyssens

    (University of Zurich)

  • Luca Taschini

    (London School of Economics and Political Science)

Abstract

Chapter 3 presents the economic rationale behind climate change and introduce the crucial concept of externalities. Using simple and tractable models, this chapter explains the key dynamics behind environmental pollutions and the tragedy of the commons plaguing the climate, the most iconic public good. The chapter then proceeds to detail the three key economic instruments to remedy the issue of climate pollution, taxes, subsidies and permits, detailing their respective advantages and limits. A special emphasis is put on the existence and influence of uncertainty, a central concept that prepares the key concepts of real options and environmental investments presented in Chap. 4. Finally, the chapter touches upon the complex relationship between economic growth and the environment and describes possible alternatives to mitigate climate while conserving economic momentum.

Suggested Citation

  • Marc Chesney & Jonathan Gheyssens & Luca Taschini, 2013. "The Economics of Mitigation Strategies," Springer Texts in Business and Economics, in: Environmental Finance and Investments, edition 127, chapter 4, pages 59-92, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-36623-9_4
    DOI: 10.1007/978-3-642-36623-9_4
    as

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