We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on informational constraints. We identify the most...

This paper examines the determinants of voluntary individual carbon offsetting, i.e. the financial compensation of emissions from energy use. In contrast to former studies in this field, we particularly consider a comprehensive set of factors that are discussed in the context of voluntary...

This paper provides theoretical and empirical insights on the extent to which the availability of carbon offsetting may substitute the individual use of other carbon-reducing measures. Theoretically, we demonstrate an ambiguous impact of offsetting on the use of other measures and derive...

This paper contributes to the economic literature on pure and impure public goods by considering two alternatives for contributing to the public good climate protection: compensating carbon emissions from conventional consumption or paying higher prices for climate-friendly products. We...

The Conference of the Parties (COP) has proven a valuable outlet to advance the climate agenda. The combination of high media coverage, extremely high expectations set by influential environmentalists, and unanimity rules has, however, started to limit its effectiveness. Technical issues can...

Based on unique data from representative computer-based surveys among more than 3400 citizens, this paper empirically examines the determinants of climate change beliefs, the support of publicly financed climate policy, and the (stated) willingness to pay a price premium for climate-friendly...

This paper examines the acceptance of burden sharing rules that refer to the costs of the Ger-man energy transition, which is one of the most challenging and disputed national climate and energy policy measures. Based on data from a comprehensive survey of more than 2,200 citi-zens, the...

We assess recent Chinese climate policy proposals in a multi‐region, multi‐sector computable general equilibrium model with a Chinese carbon emissions trading scheme (ETS). When the emissions intensity per GDP in 2020 is required to be 45% lower than in 2005, the model simulations indicate...

Climate is a persistent asset, bar none: changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, we consider hyperbolic time-preferences in...

In this paper, we investigate the real demand for climate protection when the purely individual perspective of existing revealed preference studies is relaxed. This is achieved in two treatments; first, we determine the information subjects receive about the demand revealed by other subjects in...