Governing Climate Geoengineering: Side-Payments Are Not Enough

Anna Lou Abatayo, Valentina Bosetti, Marco Casari, Massimo Tavoni and Riccardo Ghidoni

No 21-06, RFF Working Paper Series from Resources for the Future

Abstract: Climate geoengineering strategies can help reduce the economic and ecological impacts of global warming. However, governing geoengineering is challenging: since climate preferences vary across countries, excessive deployment relative to the socially optimal level is likely. Through a laboratory experiment on a public good-or-bad game, we study whether side-payments can address this governance problem. While theoretically effective, our experimental results show only a modest impact of side-payments on outcomes, especially in a multilateral setup. Replacing unstructured bilateral exchanges with a treaty framework simplifies the action space and performs moderately better.To read the full working paper, click the "Download" button above.

Date: 2021-02-17
New Economics Papers: this item is included in nep-des, nep-ene and nep-env
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Journal Article: Governing Climate Geoengineering: Side Payments Are Not Enough (2023)
Working Paper: Governing climate geoengineering: Side-payments are not enough (2021)
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