Mitigation versus compensation in global warming policy

Ross McKitrick

Economics Bulletin, 2001, vol. 17, issue 2, 1-6

Abstract: Policy discussions on global warming are focused on mitigation and adaptation. Here the role of ex post compensation as a substitute for ex ante mitigation is considered. In a simple 2-period model the salient features of the global warming problem suggest mitigation is difficult to motivate. A key problem is that damages are very hard to identify even after the fact. The roles of endogenous private savings and a compensation fund as an alternative to ex ante mitigation are explored.

Keywords: Climate; change (search for similar items in EconPapers)
JEL-codes: H4 Q2 (search for similar items in EconPapers)
Date: 2001-12-17
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