Climate geoengineering might reduce the economic and ecological impacts of global warming. However, its governance is challenging: since climate preferences vary across countries, excessive climate geoengineering relative to the socially optimal level is a likely risk. Through a laboratory experiment on a public good-or-bad game, we study to which extent side-payments can curb geoengineering efforts and restore efficiency.
Governing climate geoengineering: side-payments are not enough
Abatayo, Anna Lou;Bosetti, Valentina;
2023
Abstract
Climate geoengineering might reduce the economic and ecological impacts of global warming. However, its governance is challenging: since climate preferences vary across countries, excessive climate geoengineering relative to the socially optimal level is a likely risk. Through a laboratory experiment on a public good-or-bad game, we study to which extent side-payments can curb geoengineering efforts and restore efficiency.
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