Please note: In order to keep Hive up to date and provide users with the best features, we are no longer able to fully support Internet Explorer. The site is still available to you, however some sections of the site may appear broken. We would encourage you to move to a more modern browser like Firefox, Edge or Chrome in order to experience the site fully.

Global Carbon Pricing : The Path to Climate Cooperation, Hardback Book

Global Carbon Pricing : The Path to Climate Cooperation Hardback

Edited by Peter (University of Maryland) Cramton, David JC MacKay, Axel (Max Planck Institute of Economics) Ockenfels, Steven Stoft

Part of the The MIT Press series



Why the traditional "pledge and review" climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a "pledge and review" approach: countries pledge (almost anything), subject to (unenforced) review.

This approach ignores everything we know about human cooperation.

In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others.

They show that a "common commitment" scheme is more effective than an "individual commitment" scheme; the latter depends on altruism while the former involves reciprocity ("we will if you will"). The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations.

Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula.

The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective.

Additionally, they analyze the failings of the 2015 Paris climate conference. ContributorsRichard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Eloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E.

Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman


Save 22%



Item not Available
Free Home Delivery

on all orders

Pick up orders

from local bookshops


Also in the The MIT Press series  |  View all