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CLIMATE POLITICS, STRATEGIC BEHAVIOUR, HOLD‐OUTS, FREE RIDERS AND RENT‐SEEKERS
Author(s) -
Brady Gordon L.
Publication year - 2011
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2011.02094.x
Subject(s) - legislation , politics , greenhouse gas , seekers , perspective (graphical) , emissions trading , public choice , economics , public economics , climate change , rent seeking , free rider problem , natural resource economics , business , political science , public good , microeconomics , law , ecology , artificial intelligence , computer science , biology
This paper examines recent developments in US climate change policy from a public choice perspective. Policies such as ‘cap and trade’ threaten to impose substantial costs on individuals and businesses, yet their effectiveness at reducing greenhouse gas emissions is questionable. Support for legislation that restricts emissions can partly be explained by the strategic behaviour of various special interests.