A Voting Architecture for the Governance of Free‐Driver Externalities, with Application to Geoengineering

@article{Weitzman2012AVA,
  title={A Voting Architecture for the Governance of Free‐Driver Externalities, with Application to Geoengineering},
  author={Martin Weitzman},
  journal={Macroeconomics: National Income \& Product Accounts eJournal},
  year={2012}
}
  • M. Weitzman
  • Published 1 December 2012
  • Economics
  • Macroeconomics: National Income & Product Accounts eJournal
Abating climate change is an enormous international public-goods problem with a classical “free-rider” structure. However, it is also a global “free-driver” problem because geoengineering the stratosphere with reflective particles to block incoming solar radiation is so cheap that it could essentially be undertaken unilaterally by one state perceiving itself to be in peril. This exploratory paper develops the main features of a free-driver externality in a simple model motivated by the… 

Climate Engineering in an Interconnected World: The Role of Tariffs

It is shown that geoengineering-averse countries have an incentive to implement or increase existing tariffs when the other country uses geoengineering, by introducing a dynamic trade model.

Global Climate Governance in the Light of Geoengineering: A Shot in the Dark?

Solar radiation management (SRM), as one form of geoengineering, has been proposed as a last exit strategy to address global warming. Even though SRM is expected to be a cheap, it may be risky and

Strategic Implications of Counter-Geoengineering: Clash or Cooperation?

Asymmetric impacts and over-provision of public goods

We elicit simple conditions for an old puzzle -- over-provision of a public good. An asymmetric public good that benefits some contributors while harming others is subject to both free riding and

Quantifying Non-Cooperative Climate Engineering

The mismatch between actions to combat climate change, which are based on voluntary national initiatives of limited effort, and the recognition of the importance of global warming is growing. Climate

Mirage on the Horizon: Geoengineering and Carbon Taxation Without Commitment

We show that, in a model without commitment to future policies, geoengineering breakthroughs can have adverse environmental and welfare effects because they change the (equilibrium) carbon taxes. In

The international politics of geoengineering: The feasibility of Plan B for tackling climate change

This article puts forward what it calls the ‘security hazard’ and argues that this could be a crucial factor in determining whether a technology is able, ultimately, to reduce climate risks.
...

References

SHOWING 1-10 OF 31 REFERENCES

The Incredible Economics of Geoengineering

The focus of climate policy so far has been on reducing the accumulation of greenhouse gases. That approach, however, requires broad international cooperation and, being expensive, has been hindered

Geoengineering the Climate: Science, Governance and Uncertainty

The Royal Society has recently published a report on geoengineering - deliberately manipulating the climate. Their survey of the techniques and possibilities is useful and clear, and explores some of

The economic diplomacy of geoengineering

Abstract‘Geoengineering’ is a new term, still seeking a definition. It seems to imply something global, intentional, and unnatural. For the radiation balance, geoengineering may be fifty years in the

The Real Economics of Climate Engineering

In 2008 Scott Barrett wrote a paper on “The incredible economics of geoengineering” in which he argued that the potentially low cost of climate engineering (CE) measures together with the quick

Strategic incentives for climate geoengineering coalitions to exclude broad participation

Solar geoengineering is the deliberate reduction in the absorption of incoming solar radiation by the Earth’s climate system with the aim of reducing impacts of anthropogenic climate change. Climate

Governing Climate Engineering: Scenarios for Analysis

Geoengineering is a broad concept that encompasses a variety of large-scale, intentional, and "unnatural" technologies to control climate change, including both techniques to limit how much sunlight

On the regulation of geoengineering

New evidence that the climate system may be especially sensitive to the build-up of greenhouse gases and that humans are doing a poor job of controlling their effluent has animated discussions around

When Does Majority Rule Supply Public Goods Efficiently

H.R. Bowen showed that if voters have equal tax shares and if marginal rates of substitution are symmetrically distributed, then majority voting leads to efficient provision of public goods. These

The economics (or lack thereof) of aerosol geoengineering

Anthropogenic greenhouse gas emissions are changing the Earth’s climate and impose substantial risks for current and future generations. What are scientifically sound, economically viable, and

International Governance of Climate Engineering

Continued failure to limit emissions of carbon dioxide and other greenhouse gases that are causing global climate change has brought increased attention to climate engineering (CE) technologies,