Breton, M. and Sbragia, L. (2019) 'The impact of adaptation on the stability of international environmental agreements.', Environmental and resource economics., 74 (2). pp. 697-725.
We examine the stability of international environmental agreements that include clauses pertaining to both adaptation and mitigation measures. We assume that adaptation requires a prior irreversible investment and presents the characteristics of a private good by reducing a country’s vulnerability to the impact of pollution, while mitigation policies produce a public good by reducing the total amount of pollution. Using a stylized model, we show that adaptive measures can be used strategically and that their inclusion in environmental agreements enhances agreement stability and can even lead to full cooperation. We examine the robustness of agreements including both adaptation and mitigation measures against renegotiation. Finally, we evaluate how including adaptive measures for climate change in international environmental agreements affects welfare and overall pollution.
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||https://doi.org/10.1007/s10640-019-00341-y|
|Publisher statement:||This is a post-peer-review, pre-copyedit version of an article published in Environmental and resource economics. The final authenticated version is available online at: https://doi.org/10.1007/s10640-019-00341-y|
|Date accepted:||07 March 2019|
|Date deposited:||26 March 2019|
|Date of first online publication:||26 March 2019|
|Date first made open access:||26 March 2020|
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