A wealth of literature, reviewed in the first section of this paper, is concerned with the occurence of multiple equilibria in economic optimization models and with the resulting history dependence of optimal solutions. Typically, the existence of multiple equilibria is associated with market...

This paper investigates the promising proposal of Joint Implementation (JI) to mitigate greenhouse gas emissions. This was ultimately the only concrete outcome of the Conference on Climate Change in Berlin, albeit restricted to a pilot phase. The basic idea, given the public's awareness of...

The recent political changes will not only affect the domestic economies of the Eastern European countries but also important world commodity markets. This paper investigates consequences for world energy markets. For this purpose, a disaggregated model of the Eastern European energy markets is...