The recent global climate change agreement in Paris leaves a wide gap between pledged and requisite emissions reductions in keeping with the commonly accepted 2°C target. A recent strand of theoretical and experimental evidence establishes pessimistic predictions concerning the ability of comprehensive global environmental agreements to improve upon the business-as-usual trajectory. We introduce an economic experiment focusing on the dynamics of the negotiation process by observing subjects’ behavior in a Nash bargaining game. Throughout repeated rounds, heterogeneous players bargain over the allocation of a fixed amount of profit-generating emissions with significant losses attached to prolonged failure to reach agreement. We find that the existence of side agreements that constrain individual demands among a subset of like countries does not ensure success; however, such side agreements reduce the demands of high-emission parties. Our results highlight the importance of strong signals amongst high emitters in reaching agreement to shoulder a collective emissions reduction target.<\/p>\n\n","protected":false},"excerpt":{"rendered":"\n
The recent global climate change agreement in Paris leaves a wide gap between pledged and requisite emissions reductions in keeping…<\/p>\n\n","protected":false},"author":12,"featured_media":19851,"template":"","tags":[267,517,261],"publication-type":[435],"topic_area":[4698,4705],"class_list":["post-19565","publication","type-publication","status-publish","has-post-thumbnail","hentry","tag-game-theory","tag-implementing-the-paris-agreement","tag-international-negotiations","publication-type-working-papers","topic_area-behavioural-responses","topic_area-leadership"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"downloads":{"ref_value":"field_52f16cc1a80f2","value":["https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-content\/uploads\/2016\/08\/Working-Paper-249-Gosnell-and-Tavoni.pdf","https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-content\/uploads\/2016\/08\/Bargaining-on-the-Climate-Supplementary-Material-no-line-.pdf"],"type":"download","post_type":""},"rss_newsletter":{"ref_value":"field_54f5c2c1544d8","value":"","type":false,"post_type":""},"profile_link":{"ref_value":"field_52f164b5189e9","value":["greer-gosnell","alessandro-tavoni"],"type":"relationship","post_type":"profile"},"spotlight":{"ref_value":"field_52f80896506d3","value":"","type":false,"post_type":""}},"yoast_head":"\n