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3min chapter
The Climate Game
Think with Pinker
Carbon Tax - The Solution to the Climate Tragedy?
The tragedy of the commons is baked into the incentive structure, what game theorists call the pay off matric. No matter what everyone else does, you're better off emitting than conserving if everyone else admits. Tragedy is that these incentives apply to everyone, making it rational for everyone to omit - and everyone ends up worse off. So must the solution to the climate tragedy include a carbon tax? Absolutely. You can't just do the economic signals. There's no alternate to day. But the two really can work in concert.
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