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http://hdl.handle.net/10419/56890
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| Title: | | Is regulation by milestones efficiency enhancing? An experimental study of environmental protection  |
| Authors: | | Freytag, Andreas Güth, Werner Koppel, Hannes Wangler, Leo |
| Issue Date: | | 2010 |
| Series/Report no.: | | Jena economic research papers 2010,086 |
| Abstract: | | Viewing individual contributions as investments in emission reduction we rely on the familiar linear public goods-game to set global reduction targets which, if missed, imply that all payoffs are destroyed with a certain probability. Regulation by milestones does not only impose a final reduction target but also intermediate ones. In our leading example the regulating agency is Mother Nature but our analysis can, of course, be applied to other regulating agencies as well. We are mainly testing for milestone effects by varying the size of milestones in addition to changing the marginal productivity of individual contributions and the probability to lose. |
| Subjects: | | cumulative public goods milestones climate change experiment |
| JEL: | | C92 D78 H41 Q54 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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