We model countries' choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

We model countries' choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

Preface -- Introduction -- Four economic questions about climate change -- How much pollution is too much? -- Ethics and economics -- Pollution and resource degradation as externalities -- The efficiency standard -- Measuring the benefits of environmental protection -- Measuring the costs of...