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Best Scores - Solution to the Catastrophe-Bound Environment (Hardcover)
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Best Scores - Solution to the Catastrophe-Bound Environment (Hardcover)
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After several decades of rapid technological advancement and
economic growth, alarming levels of pollution and catastrophe-bound
environmental degradations are emerging all over the world. Even
sizable reduction in industrial pollutant emissions would only slow
down the accumulation of pollution. Given the complexity of the
problem and the over-simplicity of international environmental
initiatives (like the Kyoto Protocol, Montreal Protocol and Paris
Agreement, which focused mainly on emissions reduction and
regulations), limited success has been observed. The design of a
comprehensive solution for solving this globally devastating
problem is very much in order. Research in developing
environmentally clean technology into efficient and affordable
means of production plays a key role to effectively solving the
continual worsening global industrial pollution problem and meeting
the industrial growth needs. An essential element for success is
that the participating nations well-being must not be worse than
their non-cooperative well-being throughout the cooperation
duration. In addition, for the cooperative scheme to be
sustainable, the agreed-upon optimality principle in sharing the
cooperative benefits must be upheld at every stage of the
cooperation plan -- this condition is known as subgame consistency.
This book provides an effective means for resolving the
catastrophe-bound environmental problem through a Building
Environmentally Sustainable Technology with Subgame Consistent,
Optimal, Rational and Economically-viable Scheme (BEST SCORES). In
particular, the solution scheme involves: (i) A set of policy
instruments which includes levies on industrial pollution,
royalties on natural resources, coordinated pollutant abatement
efforts, cooperative development of clean technology, and transfer
payments leading to an optimal cooperation solution; (ii) Joint
development of environmentally sustainable technology and an
optimal technology pattern over time; (iii) A cooperative
maximisation program yielding the optimal (highest) joint payoff;
(iv) An economically viable scheme for each participating nation
with a cooperative payoff higher than its non-cooperative payoff
through transfer payments; (v) A subgame consistent payoff
distribution procedure, which ensures that the original agreed upon
optimality principle in gain sharing will be maintainedl; (vi) An
institutional mechanism design to guide the construction of
relevant institutions and agencies to implement the cooperative
scheme.
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