Kratzsch, Uwe; Sieg, Gernot; Stegemann, Ulrike - Volkswirtschaftliche Fakultät, … - 2011
This paper analyzes greenhouse gas emissions that build up an atmospheric stock which depreciates over time. Weakly renegotiation-proof and subgame perfect equilibria in a game of international emission reduction exist if countries put a sufficiently high weight on future payoffs, even though...