Can harmful events be another source of environmental traps?

• Published in: Journal of mathematical economics Vol. 89; pp. 29 - 46
• Main Author: Mavi, Can Askan
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier B.V 01.08.2020; Elsevier Sequoia S.A; Elsevier
• Subjects: Adaptation; Developing countries; Economics and Finance; Endogenous; Environmental policy; Environmental quality; Equilibrium; Exploitation; Harmful event; Humanities and Social Sciences; International trade; LDCs; Mitigation; Multiple equilibria; Occurrence hazard; Policies; Probability; Tipping points; Tradeoffs; Mitigation; Tipping points; Multiple equilibria; Harmful event; Occurrence hazard; Adaptation; occurrence hazard; tipping points; multiple equilibria; adaptation; mitigation; harmful event

This paper aims to present a new explanation for environmental traps through the presence of endogenous hazard rate. We show that adaptation and mitigation policies affect the occurrence of environmental traps differently. The former could cause environmental traps, whereas the latter could help soc...