Global Carbon Pricing: The Path to Climate Cooperation (MIT - download pdf or read online

After twenty-five years of failure, weather negotiations proceed to take advantage of a "pledge and evaluation" technique: international locations pledge (almost anything), topic to (unenforced) evaluate. This procedure ignores every little thing we all know approximately human cooperation. during this publication, prime economists describe another version for weather agreements, drawing at the paintings of the past due Nobel laureate Elinor Ostrom and others. They express "common dedication" scheme is more desirable than an "individual dedication" scheme; the latter will depend on altruism whereas the previous comprises reciprocity ("we will should you will").The participants suggest that international carbon pricing is the easiest candidate for a reciprocal universal dedication in weather negotiations. each one nation may decide to putting fees on carbon emissions enough to check an agreed international rate formulation. The members express that carbon pricing may facilitate negotiations and enforcement, increase potency and adaptability, and make different weather regulations more suitable. also, they research the flaws of the 2015 Paris weather conference.ContributorsRichard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman