Optimal intensity targets for emissions trading under uncertainty
作者： John C.V Pezzey , Frank Jotzo
DOI:
关键词: Climate policy 、 Economics 、 Equity (finance) 、 Simulation modelling 、 Economy 、 Global model 、 Econometrics 、 Stochastic game 、 Emissions trading 、 Greenhouse gas
摘要: Uncertainty can hamper the stringency of commitments under cap and trade schemes. We model how well intensity targets in international greenhouse gas emissions trading cope with three uncertainties future emissions. The degree to which are indexed GDP is continuous, including absolute, Kyoto- style as a limiting case. Countries risk averse about their expected payoffs from global abatement costs net permit trading. Target levels degrees jointly optimised through maximising payoff subject equity constraints. Our 18-region shows that optimal often must be super-indexed GDP, by reducing uncertainty they could achieve one quarter higher than absolute targets. Applications our other pollutants discussed.
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