The Kyoto Protocol marks a break-through in global warming mitigation policies as it sets legally binding emissions targets for major emitting regions. However, realisation of the Protocol depends on the clarification of several issues one of which is the permissible scope of international...

The allocation of emissions entitlements across countries is the single most controversial issue in international climate policy. Extreme positions within the policy debate range from entitlement based on current emission patterns (CEP) to equal-per-capita (EPC) allocations.Convergence (COV)...

This paper introduces a solution for the fair division of common property resources in production economies with multiple inputs and outputs. It is derived from complementing the Walrasian solution by welfare bounds, whose ethical justification rests on commonality of ownership. We then apply...