Sheeran, Kristen A. - In: Environmental & Resource Economics 35 (2006) 2, pp. 89-98
Economists commonly believe that failure to equalize the marginal cost of carbon abatement across countries implies a loss of global efficiency. Chichilnisky and Heal [(1994), Economic Letters <Emphasis Type="Bold">44, 444] first challenged this consensus a decade ago, demonstrating that, in general, efficiency does...</emphasis>