Antoci, Angelo and Borghesi, Simone and Russu, Paolo (2012) Environmental protection mechanisms and technological dynamics. Economics Modelling, Vol. 29 (3), p. 840-847. eISSN 1873-6122. Article.
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The paper proposes a new financial mechanism that could be implemented to protect the environment of a tourist region. For this purpose, we investigate the potential consequences of two financial activities, issued by the local government (G) of a region R, which work like contracts between G and, respectively, visitors of R and firms operating in R. According to these contracts, agents who decide to visit R (firms that decide to adopt an environmental friendly technology) have to buy an option that entitle them to get a partial or total reimbursement if environmental quality in R turns out to be sufficiently low (high), namely, below (above) a given predetermined threshold level.
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