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Full-Text Articles in Social and Behavioral Sciences
Unilateral Emissions Mitigation, Spillovers, And Global Learning, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Unilateral Emissions Mitigation, Spillovers, And Global Learning, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Research Collection School Of Economics
What's the role of unilateral measures in global climate change mitigation in a post-Durban, post 2012 global policy regime? We argue that under conditions of preference heterogeneity, unilateral emissions mitigation at a subnational level may exist even when a nation is unwilling to commit to emission cuts. We establish that under certain assumptions, in a global strongly connected network of countries, learning the costs of switching to a low emissions activity can result in a universal adoption of such activities. We analyze the features of a policy proposal that could accelerate convergence to a low carbon world in the presence …
Unilateral Measures And Emissions Mitigation, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Unilateral Measures And Emissions Mitigation, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Research Collection School Of Economics
We discuss global climate mitigation that builds on existing unilateral measures to cut emissions. We document and discuss the rationale for such unilateral measures argue that such measures have the potential to generate positive spillover effects both within and across countries. In a simple dynamic model of learning we show that while single countries on their own may never get to the point of switching completely to low emission activities, a learning process with positive spillovers across nations is more likely to deliver a global switch to low emissions. We discuss the key features of a new global Intellectual Property …
Quasi-Option Value Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa
Quasi-Option Value Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa
Research Collection School Of Economics
We consider a simple two-period model of irreversible investment under strategic interactions between two players. In this setup, we show that the quasi-option value may cause some conceptual difficulties. In case of asymmetric information, decentralized investment decisions fail to induce first-best allocations. Therefore a regulator may not be able to exercise the option to delay the decision to develop. We also show that information-induced inefficiency may arise in a game situation and that under certain assumptions inefficiency can be eliminated by sending asymmetric information to the players, even when the regulator faces informational constraints. Our model is potentially applicable to …
Unilateral Measures And Emissions Mitigation, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Unilateral Measures And Emissions Mitigation, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Research Collection School Of Economics
We discuss global climate mitigation that builds on existing unilateral measures to cut emissions. We document and discuss the rationale for such unilateral measures argue that such measures have the potential to generate positive spillover effects both within and across countries. In a simple dynamic model of learning we show that while single countries on their own may never get to the point of switching completely to low emission activities, a learning process with positive spillovers across nations is more likely to deliver a global switch to low emissions. We discuss the key features of a new global Intellectual Property …