The objective of this paper is to show how to initiate a market for carbon dioxide and other greenhouse gases by introducing a feasible system of tradeable emission permits, which can be applied as an efficient instrument of environmental policy in single countries and in the whole European...

The protection of the global environment is impeded by multilateral externalities which the international community attempts to bring under control by entering into international agreements. International agreements, however, can suffer from non-compliance and free-riding behaviour by sovereign...

Mehr Rationalität in der Umweltpolitik ist dringend erforderlich: Auf der Grundlage gesellschaftlicher Werte (Freiheit, Wohlstand) sind langfristige Umweltziele zu definieren und mit effizienten Instrumenten zu realisieren. Die soziale Marktwirtschaft ist um eine Umweltordnung zu ergänzen, die...