Abstract
This essay analyses global warming from the perspective of environmental economic theory: National activities to curb greenhouse gas emissions are public goods. It is well known that the expectations to arrive at a satisfactory provision of these kinds of goods by uncoordinated decision-making are low. Nations try to overcome this dilemma by international treaty-making. However, economic analysis suggests that the genesis and persistence of international climate agreements are challenged by problems of national rationality and stability as well as by the leakage effect. On the other hand, economic analysis reveals some reasons for a more optimistic view. Among those are incentives to develop and introduce green technologies and incentives to adapt to changes in the world climate.
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Endres, A. (2019). Global Warming. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7753-2_193
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DOI: https://doi.org/10.1007/978-1-4614-7753-2_193
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