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Ross McKitrick
''Mitigation versus compensation in global warming policy''
( 2001, Vol. 17 No.2 )
Policy discussions on global warming are focused on mitigation and adaptation. Here the role of ex post compensation as a substitute for ex ante mitigation is considered. In a simple 2-period model the salient features of the global warming problem suggest mitigation is difficult to motivate. A key problem is that damages are very hard to identify even after the fact. The roles of endogenous private savings and a compensation fund as an alternative to ex ante mitigation are explored.
Keywords: Climate change
JEL: Q2 - Renewable Resources and Conservation: General
H4 - Publicly Provided Goods: General
Manuscript Received : Dec 17 2001 Manuscript Accepted : Dec 17 2001

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