Climate change: the global public good
Climate change is the exemplary global public good, because each country’s emissions of greenhouse gases contribute cumulatively to the increase of the overall concentration, and each country’s abatements entail higher cost than benefit, unless effective concerted collective actions take place. Unfortunately there are weak political and economic instruments for entering a climate agreement and for attaining and maintaining its goals. Moreover there are strong free-riding incentives since it is quite difficult - and indeed very unpopular - for Governments to convince people to give up part of their current wealth for the sake of uncertain gains in the future, maybe accruing to population in remote distance. In this paper I deal with the main issues put forward by the global public good nature of climate change. Namely, I firstly shed some light on the economics of global warming in order to point out a benefit-cost framework suitable for quantifying its impacts. Then, I analyse the determinants of the provision of climate stability and the international collective action that should be undertaken to compel sovereign countries to enter into a climate agreement. Hence, after outlining the most important approach to international cooperation, I consider the possibility of a coalition formation according to the game theoretic perspective, the interests determining the participation in international agreements, and the possible sanctions imposable to countries that refuse to comply with an international climate agreement.
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.:
- Goulder Lawrence H., 1995. "Effects of Carbon Taxes in an Economy with Prior Tax Distortions: An Intertemporal General Equilibrium Analysis," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 271-297, November.
- Nijkamp, P. & Verbruggen, H., 2002. "Global trends and climate change policies," Serie Research Memoranda 0004, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Peter Cramton & Suzi Kerr, 2002.
"Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather,"
Papers of Peter Cramton
02eptc, University of Maryland, Department of Economics - Peter Cramton, revised 06 May 2002.
- Cramton, Peter & Kerr, Suzi, 2002. "Tradeable carbon permit auctions: How and why to auction not grandfather," Energy Policy, Elsevier, vol. 30(4), pages 333-345, March.
- Cramton, Peter & Kerr, Suzi, 1998. "Tradeable Carbon Permit Auctions: How and Why to Auction, Not Grandfather," Working Papers 197846, University of Maryland, Department of Agricultural and Resource Economics.
- Kerr, Suzi & Cramton, Peter, 1998. "Tradable Carbon Permit Auctions: How and Why to Auction Not Grandfather," Discussion Papers dp-98-34, Resources For the Future.
- Scott Barrett & Robert Stavins, 2003.
"Increasing Participation and Compliance in International Climate Change Agreements,"
International Environmental Agreements- Politics, Law and Economics,
Springer, vol. 3(4), pages 349-376, December.
- Barrett, Scott & Stavins, Robert, 2002. "Increasing Participation and Compliance in International Climate Change Agreements," Working Paper Series rwp02-031, Harvard University, John F. Kennedy School of Government.
- J. E. Stiglitz, 1999. "Introduction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 28(3), pages 249-254, November.
- Joseph E. Aldy & Scott Barrett & Robert N. Stavins, 2003.
"Thirteen plus one: a comparison of global climate policy architectures,"
Taylor & Francis Journals, vol. 3(4), pages 373-397, December.
- Joseph E. Aldy & Scott Barrett & Robert N. Stavins, 2003. "Thirteen Plus One: A Comparison of Global Climate Policy Architectures," Working Papers 2003.64, Fondazione Eni Enrico Mattei.
- Aldy, Joseph & Barrett, Scott & Stavins, Robert, 2003. "Thirteen Plus One: A Comparison of Global Climate Policy Architectures," Working Paper Series rwp03-012, Harvard University, John F. Kennedy School of Government.
- McKibbin, Warwick J. & Wilcoxen, Peter J., 2004.
"Estimates of the costs of Kyoto: Marrakesh versus the McKibbin-Wilcoxen blueprint,"
Elsevier, vol. 32(4), pages 467-479, March.
- Warwick J. McKibbin & Peter J Wilcoxen, 2003. "Estimates of the Costs of Kyoto-Marrakesh Versus The McKibbin-Wilcoxen Blueprint," Departmental Working Papers 2003-14, The Australian National University, Arndt-Corden Department of Economics.
- Warwick J. McKibbin & Peter J. Wilcoxen, 2003. "Estimates of the Costs of Kyoto-Marrakesh versus the McKibbin-Wilcoxen Blueprint," Economics and Environment Network Working Papers 0305, Australian National University, Economics and Environment Network.
- Pearce, David W, 1991. "The Role of Carbon Taxes in Adjusting to Global Warming," Economic Journal, Royal Economic Society, vol. 101(407), pages 938-48, July.
- Warwick J. McKibbin & Peter J. Wilcoxen, 1999. "Permit Trading Under the Kyoto Protocol and Beyond," Economics and Environment Network Working Papers 9902, Australian National University, Economics and Environment Network.
- repec:reg:rpubli:59 is not listed on IDEAS
- Toman, Michael & Shogren, Jason, 2000. "Climate Change Policy," Discussion Papers dp-00-22, Resources For the Future.
- Warwick J. McKibbin & Peter J. Wilcoxen, 1997. "Salvaging the Kyoto Climate Change Negotiations," Economics and Environment Network Working Papers 9704, Australian National University, Economics and Environment Network.
- Cooper, Richard N, 2000. "International Approaches to Global Climate Change," World Bank Research Observer, World Bank Group, vol. 15(2), pages 145-72, August.
- Adam Rose & Brandt Stevens & Jae Edmonds & Marshall Wise, 1998. "International Equity and Differentiation in Global Warming Policy," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 12(1), pages 25-51, July.
- Warwick J. McKibbin & Peter J. Wilcoxen, 2002. "The Role of Economics in Climate Change Policy," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 107-129, Spring.
- Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpot:0405010. 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: (EconWPA)
If references are entirely missing, you can add them using this form.