FEEM working papers "Note di lavoro" series
2003 .088

New Roads to International Environmental Agreements: The Case of Global Warming

Authors: Michael Finus, Johan Eyckmans
Series: Climate Change and Sustainable Development
Editor: Carlo Carraro
Type: Journal
Keywords: Design of climate treaty protocol,Coalition formation,Non-cooperative game theory
JEL n.: C68,C72,H41,Q25
JEL: Environmental Economics and Policy Studies
Pages: vol. 7 (4), pp. 391-414
Date: 2006


We analyze with an integrated assessment model of climate change the formation of international environmental agreements (IEAs) by applying the widely used concept of internal & external stability and several modifications of it. We relax the assumptions of a single agreement and open membership rule. It turns out that regional agreements are superior to a single agreement and exclusive is superior to open membership in welfare and ecological terms. Moreover, we show the importance of transfers for successful treaty-making. We relate our results to the design of current and past IEAs as well as to other issues of international policy coordination.

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