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- W2892298068 abstract "We analyze participation in international environmental agreements in a dynamic game in which countries pollute and invest in green technologies. If complete contracts are feasible, participants eliminate the holdup problem associated with their investments; however, most countries prefer to free ride rather than participate. If investments are noncontractible, countries face a holdup problem every time they negotiate; but the free-rider problem can be mitigated and significant participation is feasible. Participation becomes attractive because only large coalitions commit to long-term agreements that circumvent the holdup problem. Under well-specified conditions even the first-best outcome is possible when the contract is incomplete." @default.
- W2892298068 created "2018-09-27" @default.
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- W2892298068 date "2016-02-01" @default.
- W2892298068 modified "2023-10-10" @default.
- W2892298068 title "Participation and Duration of Environmental Agreements" @default.
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- W2892298068 doi "https://doi.org/10.1086/684478" @default.
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