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| Author: | Steiner Brandt, U. |
| Title: | Are uniform solutions focal? The case of international environmental agreements |
| Journal: | Environmental and Resource Economics
2003 : JUL, VOL. 25:3, p. 357-376 |
| Index terms: | Environmental economics Contracts |
| Freeterms: | Constraints Agreements |
| Language: | eng |
| Abstract: | This paper shows that when countries possess private information about their own reduction costs, there exits a fundamental trade-off between flexibility and feasibility when considering solutions to IEP. This can explain why uniform solutions often remain the default setting especially in the early stages of regime formation, where informational asymmetries are likely to be present. |
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