In this paper we develop the standard utility function of a Ramsey-type optimal growth model to account for a market-time vs. free-time trade-off. To do so, we introduce a free-time preference coefficient that measures the utility gained by deviating from a maximum labour supply defined as the...

This paper examines prospects for compromise between competing perspectives on four key climate change issues: costs, level of domestic action, nvironmental integrity, and developing world involvement. It focuses on the policy issues stemming from the uncertainty about abatement costs. Based on...

After nearly two decades of debate and fundamental disagreement, topdown and bottom-up energy-economy modelers, sometimes referred to as modeling ‘tribes', began to engage in productive dialogue in the mid-1990s (IPCC 2001). From this methodological conversation have emerged modeling...

This paper aims at clarifying some conceptual flaws blurring the equity-efficiency debates involved in the setting of objectives of GHGs emissions control beyond 2012. To this end, it carries out numerical experiments that test the viability of agreements grounded on two contrasting target...