Climate change: the global public good
Additional contact information
Marco Grasso: Dipartimento di Sociologia e Ricerca Sociale - Universita' degli Studi di Milano Bicocca
Others from University Library of Munich, Germany
Climate change is the exemplary global public good, because each country’s emissions of greenhouse gases contribute cumulatively to the increase of the overall concentration, and each country’s abatements entail higher cost than benefit, unless effective concerted collective actions take place. Unfortunately there are weak political and economic instruments for entering a climate agreement and for attaining and maintaining its goals. Moreover there are strong free-riding incentives since it is quite difficult - and indeed very unpopular - for Governments to convince people to give up part of their current wealth for the sake of uncertain gains in the future, maybe accruing to population in remote distance. In this paper I deal with the main issues put forward by the global public good nature of climate change. Namely, I firstly shed some light on the economics of global warming in order to point out a benefit-cost framework suitable for quantifying its impacts. Then, I analyse the determinants of the provision of climate stability and the international collective action that should be undertaken to compel sovereign countries to enter into a climate agreement. Hence, after outlining the most important approach to international cooperation, I consider the possibility of a coalition formation according to the game theoretic perspective, the interests determining the participation in international agreements, and the possible sanctions imposable to countries that refuse to comply with an international climate agreement.
Keywords: climate change; public goods; international environmental agreements (search for similar items in EconPapers)
JEL-codes: H41 D61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr, nep-pbe and nep-res
Note: Type of Document - pdf; pages: 18
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Working Paper: Climate change: the global public good (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpot:0405010
Access Statistics for this paper
More papers in Others from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ().