CLIMATE POLITICS,STRATEGIC BEHAVIOUR,HOLD‐OUTS,FREE RIDERS AND RENT‐SEEKERS |
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| Authors: | Gordon L Brady |
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| Institution: | Joint Economic Committee of the US Congress |
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| Abstract: | 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. |
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| Keywords: | Climate change cap and trade carbon markets interest groups public choice theory rent‐seeking |
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