The Kyoto Protocol has introduced the so-called Clean Development Mechanism (CDM) under which industrialized countries are allowed to fulfill part of their obligations through the use of emission credits generated by emission reduction projects undertaken in developing countries. Developing...

Calling upon both positive and normative economics, we attempt to characterize the issues at stake in the current international negotiations on climatic change. We begin (section 2) by reviewing the main features of the Protocol. Then (Section 3), we identify by means of an elementary economic...

Introductory notions -- The reference economic-ecological model -- Economic theory concepts -- Game theory concepts -- The global externality game (GEG) -- The dynamic GEG -- The dynamic GEG in numbers -- Coalitional stability in the GEG -- Policy and diplomacy: a GEG interpretation of the...