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showing that mitigation costs are lower in a global permit market than in regional markets or in permit markets confined to … permit market is fully endogenised, i.e. agents may decide to bank permits by taking into account their present and future …
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plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of … perfect competition, the global fields of the dysfunctional market system have mushroomed in what we call Warrant Economics … for the Free-Market Aristocracy. Warrant Economics unfolds in two symbiotic tenets that constitute the subtle architecture …
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A tragedy of the commons appears when the users of a common resource have incentives to exploit it more than the socially efficient level. We analyze the situation when the tragedy of the commons is embedded in a network of users and sources. Users play a game of extractions, where they decide...
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Analyses of public goods regularly address the case of pure public goods. However, a large number of (international) public goods exhibit characteristics of different degrees of publicness, i.e. they are impure public goods. In our analysis of transfers helping to overcome the inefficient...
Persistent link: https://www.econbiz.de/10008796286
Many water allocation agreements in transboundary river basins are inherently unstable. Due to stochastic river flow, agreements may be broken in case of drought. The objective of this paper is to analyse whether water allocation agreements can be self-enforcing. An agreement is modelled as the...
Persistent link: https://www.econbiz.de/10008823926