Self-enforcing Voluntary Approaches with Incomplete Information and Environmental Uncertainty

While in the context of pure environmental economic theory, national policies and cross-country evaluations by several international organizations voluntary agreements have been repeatedly assessed, an in-depth economic evaluation of voluntary agreements in climate policy has been lacking. Baranzini and Thalman have closed this gap and their collection of articles will be a standard reference for some time to come.’ – Axel Michaelowa, Climate Policy Voluntary approaches (VAs) are increasingly implemented in different countries as the main instrument in environmental policies. The authors focus on the economics of (VAs), their advantages and disadvantages and how they compare with other climate policy instruments.