The paper presents a dynamic game where players contribute to a public bad, invest in technologies, and write incomplete contracts. Despite the n 1 stocks in the model, the analysis is tractable and the symmetric Markov perfect equilibrium unique. If only the contribution levels are...

A global target of stabilizing greenhouse-gas concentrations at between 450 and 550 parts per million carbon-dioxide equivalent (ppm COe) has proven robust to recent developments in the science and economics of climate change. Retrospective analysis of the Stern Review (2007) suggests that the...

A global target of stabilising greenhouse gas concentrations at between 450ppm CO2e and 550ppm CO2e has proven robust to recent developments in the science and economics of climate change. Retrospective analysis of the Stern Review indicates that the risks were underestimated, suggesting a...