Working Paper : 1101


Authors Xepapadeas, A.
Title The Cost of Ambiguity and Robustness in International Pollution Control
Abstract This paper examines robustness in international pollution control emerg- ing from the regulator��s concerns regarding possible misspeci��cation of the natural system that is used to model pollution dynamics. Cooperative and noncooperative robust policy rules are determined along with the cost in terms of value loss of being robust relative to conventional policy rules.
Keywords Ambiguity, Robustness, Precaution, Di¤erential games, Open Loop and Feedback Nash equilibrium
File Precaution_International_Pollution_Control_January_2011.pdf (256225 bytes)
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