Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?
RFF is pleased to welcome Dr. Martin L. Weitzman, professor of economics at Harvard University, to present his new research, “Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?”
Event Details
RFF is pleased to welcome Dr. Martin L. Weitzman, professor of economics at Harvard University, to present his new research, “Can Negotiating a Uniform Carbon Price Help to Internalize the Global Warming Externality?”
At this technical seminar, Dr. Weitzman will explore the concept of a theoretical “World Climate Assembly” that votes on global carbon emissions via the basic principle of majority rule—a useful allegory for understanding reasonable outcomes of climate negotiations. The research considers two variants—a worldwide uniform carbon tax and a worldwide cap-and-trade system with allowance allocation—and seeks to understand which of these variations might be less distortionary and easier to enact.
Participants
Martin Weitzman
