Pledge-and-Review Bargaining: from Kyoto to Paris

In: The economic journal: the journal of the Royal Economic Society, Band 133, Heft 651, S. 1181-1216

Abstract

AbstractA tractable dynamic model of international climate policies is analysed. The choice of bargaining game influences participation levels, emission quotas and technology investment levels. I derive several predictions that are arguably consistent with the differences between the 1997 Kyoto Protocol and the 2015 Paris Agreement—including the transitioning from the former to the latter.