Before 2005 when the Kyoto Protocol went into force, the Framework Convention of Climate Change (FCCC) did not impose any binding restrictions on carbon emissions of member countries. Many argue that such a treaty would not reduce carbon emissions. In this paper, we investigate the effect of...

Whether or not the current climate talks achieve a meaningful treaty, the current negotiation forms important reference points for future negotiations. In this paper, we introduce reference points to a canonical model of International Environmental Agreements (IEAs). An IEA member that abates is...