Cooperative and Non-Cooperative Multi-Actor Strategies of Optimizing Greenhouse Gas Emissions View Full Text


Ontology type: schema:Chapter     


Chapter Info

DATE

1999

AUTHORS

Klaus Hasselmann

ABSTRACT

A simple Structural Integrated Assessment Model (SIAM) consisting of a linearized impulse response climate model coupled to an economic model is applied to the determination of optimal CO2 emission paths that minimize the time integrated sum of climate change impact and mitigation costs. The impulse response climate model is calibrated against state of the art three dimensional carbon cycle and coupled ocean-atmosphere general circulation models. The economic module consists of simple expressions for the climate change impact and emission abatement costs, with some additional cost terms parameterizing the inertia of the economic system.Application of SIAM to the single-actor case (all economic actors agree on a common abatement policy) yields emission curves that rise for one or two decades before falling monotonically to the asymptotic value of zero after many centuries. Removal of the economic inertia terms yields solutions with an immediate draw-down of emissions, but with little impact on the long-term levels of emissions or climate change. Important for an effective climate mitigation policy are the long-term rather than the short-term emission reductions. The optimal emissions path depends critically on the intertemporal relation assumed for the climate damage costs. Solutions with limited climate change are obtained only if the discount rate for climate damage costs is set at a significantly lower level than the discount rate for mitigation costs. Application of standard discount rates for both cost terms yields optimal emission paths leading to a long term global warming of the order of 10 degrees Centigrade.The SIAM model is applied also to three non-cooperative multi-actor cases: n identical mitigating actors; a single mitigating actor facing a majority of non-mitigating actors; and a single world-fossil-fuel user interacting with a single world-fossil-fuel producer. In the first two cases the n-actor non-cooperative solutions are found to be less efficient than the cooperative solutions, as expected, but less so than may have been anticipated intuitively from free-rider considerations. In the last case, the fossil fuel supplier can effectively counteract the mitigation efforts of the fossil fuel user by lowering the fuel price. The Nash equilibrium relations derived for these examples can be readily applied to more general multi-actor cases. More... »

PAGES

209-256

Book

TITLE

Anthropogenic Climate Change

ISBN

978-3-642-64213-5
978-3-642-59992-7

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/978-3-642-59992-7_7

DOI

http://dx.doi.org/10.1007/978-3-642-59992-7_7

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1015865373


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