Bearing the cost
Posted on : May 1, 2012
Several negotiations, ranging from Kyoto to Cancun, have tried to look at solutions to climate change, but have failed to reach an overarching solution to emissions. Recognizing this, Sir James Mirrlees focused on academic solutions. He stressed on imposing carbon taxes and ensuring technology transfers between countries. In order to reach an agreement, countries must recognize both short - and long-term benefits. In his model, Sir Mirrlees employs the Nash bargaining solution method, whereby there would be a limitation to emissions by each country, based on its economy and size. The model also includes technology transfer s between nations, enabling equity and benefits.
The model's ... >>
The model's ... >>
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