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Game Theory and International Environmental Cooperation (Hardcover)
Loot Price: R4,233
Discovery Miles 42 330
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Game Theory and International Environmental Cooperation (Hardcover)
Series: New Horizons in Environmental Economics series
Expected to ship within 12 - 17 working days
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Since there is no supranational institution which can enforce
international environmental agreements (IEAs), international
cooperation proves difficult in practice. Global emissions exhibit
negative externalities in countries other than that of their origin
and hence there is a high interdependence between countries, and
strategic considerations play an important role. Game theory
analyses the interaction between agents and formulates hypotheses
about their behavior and the final outcomes in games. Hence,
international environmental problems are particularly suited for
analysis by this method. The book investigates various strategies
to provide countries with an incentive to accede, agree and comply
to an international environmental agreement (IEA). Finus shows that
by integrating real world restrictions into a model, game theory is
a powerful tool for explaining the divergence between 'first-best'
policy recommendations and 'second-best' designs of actual IEAs.
For instance he explains why (inefficient) uniform emission
reduction quotas have played such a prominent role in past IEAs
despite economists' recommendations for the use of (efficient)
market-based instruments as for example emission targets and
permits. Moreover, it is stated, that a single, global IEA on
climate is not necessarily the best strategy and small coalitions
may enjoy a higher stability and may achieve more. This book will
be of great interest to scholars, researchers and lecturers in the
fields of international environmental economics, game theory and
international relations.
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