Despite the objection of the Bush administration to the U.S.’s ratification of the Kyoto Protocol, its entry into force has come to be realistic due to the Bonn Agreement in July. The purpose of this paper is first to survey the framework of the Protocol, and then to analyze the strategic...

This paper studies countries’ incentives to develop advanced pollution abatement technology when technology may spillover across countries and pollution abatement is a global public good. We are motivated in part by the problem of global warming: a solution to this involves providing a global...

We model countries' choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

This paper studies countries' incentives to develop advanced pollution abatement technologies when technology may spill over across countries, and pollution abatement is a global public good. First, we show that at the Nash equilibrium of a simultaneous-move game with R&D investment and emission...

We model countries' choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...