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  4. Cooperation on climate change under economic linkages: How the inclusion of macroeconomic effects affects stability of a global climate coalition
 
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2017
Journal Article
Title

Cooperation on climate change under economic linkages: How the inclusion of macroeconomic effects affects stability of a global climate coalition

Abstract
Game-theoretic models of international cooperation on climate change come to very different results regarding the stability of the grand coalition of all countries, depending on the stability concept used. In particular, the core-stability concept produces an encouraging result that does not seem to be supported by reality. We extend the game-theoretic model based on this concept by introducing macroeconomic effects of emission reduction measures in multiple countries. The computable general equilibrium model DART and damage functions from the RICE model are used to quantify the theoretical model. Contrary to the classical model, we find that, under a low damage scenario, the core of the resulting co-operative game is empty and no stable global agreement exists. This is mainly due to fossil fuel exporting countries, which are negatively affected by lower fossil fuel prices resulting from emission reduction measures.
Author(s)
Kersting, Jan
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Duscha, Vicki  
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Weitzel, Matthias
National Center for Atmospheric Research
Journal
The energy journal  
Open Access
DOI
10.5547/01956574.38.4.jker
Language
English
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Keyword(s)
  • game theory

  • cooperation

  • climate change

  • core

  • stability

  • macroeconomic effects

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