On international compensations for environmental stocks
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.
|Date of creation:||1993|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stähler, Frank, 1992. "Pareto improvements by in-kind-transfers," Kiel Working Papers 541, Kiel Institute for the World Economy.
- Friedman, James W, 1971. "A Non-cooperative Equilibrium for Supergames," Review of Economic Studies, Wiley Blackwell, vol. 38(113), pages 1-12, January.
- 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.
- Mohr, Ernst & Thomas, Jonathan P., 1998.
"Pooling sovereign risks: The case of environmental treaties and international debt,"
Journal of Development Economics,
Elsevier, vol. 55(1), pages 173-190, February.
- 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.
- repec:cup:cbooks:9780521297615 is not listed on IDEAS
- 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.
- 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.
- 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.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:kie:kieliw:580. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny)
If references are entirely missing, you can add them using this form.