Sharing the Cost of Global Warming
26 Pages Posted: 29 Nov 2011
Date Written: December 2011
Abstract
For meteorological reasons, the distribution of climate‐change damage bears no relationship to the distribution of emissions across the globe. We argue in favor of offsetting this discrepancy. We propose a global insurance scheme of sorts, to be financed according to countries’ responsibilities in the matter. We analyze this horizontal equity problem using a responsibility/compensation framework, which we have adapted to a context of externalities. We characterize new versions of two well‐known cost‐sharing schemes.
Keywords: Climate change, responsibility, egalitarian liberalism, D62, D63, Q54
Suggested Citation: Suggested Citation
de Villemeur, Etienne Billette and Leroux, Justin, Sharing the Cost of Global Warming (December 2011). The Scandinavian Journal of Economics, Vol. 113, Issue 4, pp. 758-783, 2011, Available at SSRN: https://ssrn.com/abstract=1965889 or http://dx.doi.org/10.1111/j.1467-9442.2011.01675.x
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