Gersbach, Hans; Winkler, Ralph - In: Journal of Economic Dynamics and Control 36 (2012) 11, pp. 1775-1795
We design a global refunding scheme as a new international approach to address climate change. Participating in the … within a given period. The refunding scheme reduces the intertemporal climate change problem into a static public goods … problem. In a simple model we show that a suitably designed global refunding scheme achieves the social global optimum …