Climate Agreements in a Mitigation-Adaptation Game

Basak Bayramoglu, Michael Finus () and Jean-Francois Jaques
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Jean-Francois Jaques: Université Paris-Est

No 51/16, Department of Economics Working Papers from University of Bath, Department of Economics

Abstract: We analyze the strategic interaction between mitigation (publicgood) and adaptation (private good) strategies in a climate agreement.We show that adaptation can lead to larger self-enforcing agreements,associated with higher global mitigation levels and welfare if it causesmitigation levels between different countries to be no longer strate-gic substitutes but complements. Thus, the fear that adaptation willreduce the incentives to mitigate carbon emissions may be unwar-ranted. We argue that our results extend to many important public goods. The purchase of private goods may not crowd out the provision of public goods, as this is commonly believed.

Date: 2016-07-18
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-gth
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Climate agreements in a mitigation-adaptation game (2018)
Working Paper: Climate agreements in a mitigation-adaptation game (2018)
Working Paper: Climate Agreements in a Mitigation-Adaptation Game (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:eid:wpaper:58130

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