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Uncertainty and International Climate Change Negotiations

Cai, Yiyong; McKibbin, Warwick


Because issues associated with climate change are historically unprecedented and thus policymakers do not have a prior distribution over possible outcomes, the usual theoretical approach based on governments maximizing expected utility may not be suitable for analysing climate policy choice. Under an alternative plausible assumption that policymakers act strategically but choose the policy that incurs the highest possible gain in theworst-case scenario, this paper shows howcollectivism...[Show more]

CollectionsANU Research Publications
Date published: 2015
Type: Journal article
Source: Italian Economic Journal
DOI: 10.1007/s40797-015-0010-y


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