Exhaustible resource consumption and lessons for greenhouse gas limitations - a three-country, three-period model of iterative decision-making

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In this paper, I present an iterative decision-making model in which three countries choose their consumptions of exhaustible resources across three periods. With this model, I investigate the significance of changing climate information and countries’ interactions in the context of global climate policy. Since climate change depends on cumulative greenhouse gas emissions, permissible emissions can be regarded as exhaustible resource consumption under an effective climate policy. Through comparative static analysis and simulations, I show that the likelihoods of countries’ participation in limiting emissions, their past decisions, and changing information have a significant influence on their near-term climate decisions. Moreover, my results demonstrate the value of early participation—in particular, an early and adequate response to new information. The insights from this study will be used for deciphering my future research, which will engage one or more integrated assessment models.

    Item Description
    Name(s)
    Author: Rho, Eunju
    Thesis advisor: Yohe, Gary
    Date
    April 15, 2012
    Extent
    95 pages
    Language
    eng
    Genre
    Physical Form
    electronic
    Discipline
    Rights and Use
    In Copyright – Non-Commercial Use Permitted
    Digital Collection
    PID
    ir:1703