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Environmental protection mechanisms and technological dynamics

Angelo Antoci, Simone Borghesi () and Paolo Russu ()

Economic Modelling, 2012, vol. 29, issue 3, 840-847

Abstract: The paper proposes a new financial mechanism that could be implemented to protect the environment of a tourist region. For this purpose, we investigate the potential consequences of two financial activities, issued by the local government (G) of a region R, which work like contracts between G and, respectively, visitors of R and firms operating in R. According to these contracts, agents who decide to visit R (firms that decide to adopt an environmental friendly technology) have to buy an option that entitle them to get a partial or total reimbursement if environmental quality in R turns out to be sufficiently low (high), namely, below (above) a given predetermined threshold level.

Keywords: Environmental protection; Financial instruments; Technological innovation; Evolutionary dynamics (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1016/j.econmod.2011.10.004

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