ECON 548 Spring 2011 Lecture16

ECON 548 Spring - ECON/ENVR548 Spring 2011 Lecture 16 Jason H Murray International Environmental Agreements • No world government police and

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Unformatted text preview: ECON/ENVR548 Spring 2011 Lecture 16 Jason H Murray International Environmental Agreements • No world government, police and limited court system • Leads to international public goods and commons goods problems. – Each nation is free to pollute as it chooses – Or over-harvest the common property of the high seas Non-cooperative “game” definition: game: players with strategies and payoffs (Material for this lecture adapted from Environment and Statecraft by Scott Barrett, Oxford University Montreal Protocol 1978 1979 1980 1981 19821983 1984 19851986 1987 1988 1989 1990 1991 19921993 19941995 1996 19971998 19992000 2001 20022003 20042005 2006 50 100 150 200 250 300 Yearly atmospheric CFC's CFC concentration Wor ld Resources Institute Classic Prisoner’s Dilemma (Payoff ~ yrs in Jail) Finding Nash Equilibria in Normal form games (Review?) 1. Does outcome ‘survive an announcement test?’ – If both players announce that strategy, does either want to switch? if not, Nash Equilibrium 2. Brute force algorithm: – Circle highest right-hand corner number in row. – Circle highest left-hand corner number in each column....
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This note was uploaded on 06/16/2011 for the course ECON 548 taught by Professor Murray during the Spring '11 term at South Carolina.

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ECON 548 Spring - ECON/ENVR548 Spring 2011 Lecture 16 Jason H Murray International Environmental Agreements • No world government police and

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