We develop a 2-period emission trading model for a stock pollutant with demand shocks resolving over time. We find precise conditions for efficiency of a stabilization mechanism where cumulative available permits decrease with excess supply in early periods. Our model describes the stabilization...

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...

Based on data from a representative survey among more than 2200 households, this paper empirically examines the agreement to the German energy transition in total and to six single energy policy measures, which are components of this challenging national policy approach. Our micro-econometric...

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...

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...

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...