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The Value and Applicability of Bargaining in an Intergenerational Setting

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  • Howard, Gregory E.

Abstract

I consider a variation of Coasian bargaining as a policy instrument for internalizing intergenerational externalities. The variation involves appointing a contemporary party to represent the interests of the affected parties who are currently unable to represent themselves, either because they are too young or have not yet been born. Potential criticisms of such a policy are considered and addressed, and precedents to such a policy are put forth. A two period model is formulated to test the effectiveness of bargaining compared to a tax and subsidy regime and is found to be comparable and robust to parameter and model adjustments.

Suggested Citation

  • Howard, Gregory E., 2011. "The Value and Applicability of Bargaining in an Intergenerational Setting," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103227, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea11:103227
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    References listed on IDEAS

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    1. Ciaian, Pavel & Kancs, d'Artis, 2011. "Interdependencies in the energy-bioenergy-food price systems: A cointegration analysis," Resource and Energy Economics, Elsevier, vol. 33(1), pages 326-348, January.
    2. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    3. Zhang, Zibin & Lohr, Luanne & Escalante, Cesar & Wetzstein, Michael, 2010. "Food versus fuel: What do prices tell us?," Energy Policy, Elsevier, vol. 38(1), pages 445-451, January.
    4. Du, Xiaodong & Hayes, Dermot J., 2009. "The impact of ethanol production on US and regional gasoline markets," Energy Policy, Elsevier, vol. 37(8), pages 3227-3234, August.
    5. Harry de Gorter & Dusan Drabik & David R. Just, 2011. "The Economics of a Blender's Tax Credit versus a Tax Exemption: The Case of U.S. 'Splash and Dash' Biodiesel Exports to the European Union," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, pages 510-527.
    6. Bruce A. Babcock, 2008. "Breaking the Link between Food and Biofuels," Center for Agricultural and Rural Development (CARD) Publications 08-bp53, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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    Keywords

    Bargaining; intergenerational externalities; welfare analysis; Environmental Economics and Policy; Political Economy;

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