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What is the best way to reward innovation? While prizes avoid deadweight loss, intellectual property selects high … social surplus projects. Optimal innovation policy thus trades off the ex-ante screening benefit and the ex-post distortion … and market size of the innovation. The appropriate degree of market power is never full monopoly pricing and is determined …
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The Kyoto and Copenhagen Protocols on climate change mitigation postponed the specification of binding commitments to a future negotiation. This paper analyzes the strategic implications of delayed negotiations. While, as iswell-understood, the incentive to free ride leads to excessive emissions...
Persistent link: https://www.econbiz.de/10009002344
The Kyoto and Copenhagen Protocols on climate change mitigation postponed the specification of binding commitments to a future negotiation. This paper analyzes the strategic implications of delayed negotiations. While, as is well-understood, the incentive to free ride leads to excessive...
Persistent link: https://www.econbiz.de/10011056166
This paper reflects on the economics and politics of an international climate policy agreement. The international community has so far failed to design institutions and a compensation scheme that would lead to an abatement effort commensurate with the IPCC recommendations that it attempts...
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Climate change poses an existential threat. The authors argue that carbon pricing and green research and development (R&D) support are good economics, but their implementation can be improved. Even if carbon prices are generalized and given more substance, green R&D is still likely to be smaller...
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