Watch Dan Miller’s TED talk, A Simple and Smart Way to Fix Climate Change, and address the following questions. (a) What is the economic root of the climate change problem, that is, why do people (firms, consumers, etc) engage in activities which imply a cost to the environment that exceeds the economic benefit? (b) How does Miller’s proposal relate to the concept, presented in class, of Pigouvian taxation? (c) How does Miller’s proposal relate to the concept of repeated interaction (i.e., repeated games)? (d) What are the main constraints stopping proposals like Miller’s from being implemented?
Watch Dan Miller’s TED talk, A Simple and Smart Way to Fix Climate Change, and address the following questions. (a) What is the economic root of the climate change problem, that is, why do people (firms, consumers, etc) engage in activities which imply a cost to the environment that exceeds the economic benefit? (b) How does Miller’s proposal relate to the concept, presented in class, of Pigouvian taxation? (c) How does Miller’s proposal relate to the concept of repeated interaction (i.e., repeated games)? (d) What are the main constraints stopping proposals like Miller’s from being implemented?
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter11: Public Goods And Common Resources
Section: Chapter Questions
Problem 10PA
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Watch Dan Miller’s TED talk, A Simple and Smart Way to Fix Climate Change, and address the following questions.
(a) What is the economic root of the climate change problem, that is, why do people (firms, consumers, etc) engage in activities which imply a cost to the environment that exceeds the economic benefit?
(b) How does Miller’s proposal relate to the concept, presented in class, of Pigouvian taxation ?
(c) How does Miller’s proposal relate to the concept of repeated interaction (i.e., repeated games)?
(d) What are the main constraints stopping proposals like Miller’s from being implemented?
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Step 1: Describe the implications of externalities
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VIEWStep 3: Examine how does Miller’s proposal relate to Pigouvian taxation
VIEWStep 4: Explain how does Miller’s proposal relate to the concept of repeated interaction
VIEWStep 5: Explain the main constraints stopping the proposals from being implemented
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