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Stability of global climate cooperation under uncertainty

: Kersting, Jan

Volltext urn:nbn:de:0011-n-4190072 (545 KByte PDF)
MD5 Fingerprint: 0381f2ed4074e5b6fea2958cc547d48b
Erstellt am: 9.11.2016

Karlsruhe: Fraunhofer ISI, 2016, 35 S.
Bundesministerium für Bildung und Forschung BMBF
01LA1127A; CORE
Cooperative regimes for future climate policy
Buch, Elektronische Publikation
Fraunhofer ISI ()
climate; cooperative game; core stability; uncertainty

International cooperation is needed to substantially reduce global greenhouse gas emissions and avoid dangerous climate change. The possibility of cooperation is influenced by the presence of uncertainty in both damages from climate change and the development of low-carbon technologies. This paper integrates uncertainty into an analysis of the stability of global climate cooperation, using cooperative game theory. I find that the deterministic result does not necessarily carry over to the case including uncertainty, and that the stability of global cooperation crucially depends on the ability of a coalition to redistribute risk between members with different levels of risk aversion. The results suggest that risk redistribution should feature prominently in the international climate regime.