The Economics of International Environmental Cooperation

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The Economics of international environmental cooperation looks at environmental issues calling for international cooperation, such as river management, transboundary air pollution and climate. It analyses methods used to reduce free-riding in protecting the commons and discusses agreements considered successful - such as the Montreal Protocol - and others that are less effective. In the absence of a supranational authority to enforce solutions in the interest of larger regions, voluntary agreements need to be negotiated by independent agents. They should pass not only aggregate cost-benefit tests, but they have to meet additional criteria in order to win the support of those who cooperate. The book analyses different agreements and draws policy conclusions.