Claude, Denis; Figuières, Charles; Tidball, Mabel - LAboratoire Montpelliérain d'Économie Théorique et … - 2008
This paper explores the dynamic properties of price-based policies in a model of competition between two jurisdictions. Jurisdictions invest over time in infrastructure to increase the quality of the environment, a global public good. They are identical in all respects but one: initial stocks of...