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On a Decentralized Boundedly Rational Emission Reduction Strategy

In: Dynamic Systems, Economic Growth, and the Environment

Author

Listed:
  • Arkady Kryazhimskiy

    (International Institute for Applied Systems Analysis (IIASA))

Abstract

We consider the emission reduction process involving several countries, in which the countries negotiate, in steps, frequently enough, on small, local emission reductions and implement their decisions right away. In every step, the countries either find a mutually acceptable local emission reduction vector and use it as a local emission reduction plan, or terminate the emission reduction process. We prove that the process necessarily terminates in some step and the final total emission reduction vector lies in a small neighborhood of a certain Pareto maximum point in the underlying emission reduction game. We use examples to illustrate some features of the proposed decision making scheme and discuss a way to organize negotiations in every step of the emission reduction process.

Suggested Citation

  • Arkady Kryazhimskiy, 2010. "On a Decentralized Boundedly Rational Emission Reduction Strategy," Dynamic Modeling and Econometrics in Economics and Finance, in: Jesús Crespo Cuaresma & Tapio Palokangas & Alexander Tarasyev (ed.), Dynamic Systems, Economic Growth, and the Environment, pages 215-236, Springer.
    • Handle: RePEc:spr:dymchp:978-3-642-02132-9_11
    DOI: 10.1007/978-3-642-02132-9_11
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