Economic approaches to international agreements for carbon dioxide containment
by Heinz Welsh
International Journal of Global Energy Issues (IJGEI), Vol. 5, No. 2/3/4, 1993

Abstract: This article discusses economic approaches to international CO₂ agreements from the point of view of equity and efficiency. Both of these aspects are important for the mitigation of climate risk because an effective CO₂ containment agreement is likely to be attainable only if the associated burdens are kept to a minimum and distributed in an equitable way. The paper provides a comparison of selected fixed and flexible quota arrangements both from a theoretical and an empirical point of view. It is concluded that flexible quotas not only minimize overall economic burdens, but also reduce the present inequality in the world income distribution.

Online publication date: Thu, 17-Jul-2014

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