Hourglass models of world-wide problems such as climate change

Arie ten Cate

No 238, CPB Memorandum from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: A simple model of “hourglass” problems is presented. For such problems, the benefit of a national policy measure is propagated to all countries through one single world-wide variable. The prime example is the effect of the reduction of CO2 emission on the world climate.Five optimal solutions are given, for various situations and points of view, followed by a comparison with the outcome of permit trading.

JEL-codes: F5 Q42 Q48 Q54 Q58 (search for similar items in EconPapers)
Date: 2010-02
New Economics Papers: this item is included in nep-ene and nep-env
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Citations: View citations in EconPapers (2)

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