{"id":18908,"date":"2016-05-23T15:14:40","date_gmt":"2016-05-23T14:14:40","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=event&p=18908"},"modified":"2017-07-20T11:14:28","modified_gmt":"2017-07-20T10:14:28","slug":"grantham-seminar-how-a-minimum-carbon-price-commitment-might-help-to-internalize-the-global-warming-externality","status":"publish","type":"event","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/events\/grantham-seminar-how-a-minimum-carbon-price-commitment-might-help-to-internalize-the-global-warming-externality\/","title":{"rendered":"Grantham Seminar | How a minimum carbon price commitment might help to internalize the global warming externality"},"content":{"rendered":"\n

\"61\"<\/p>\n

Grantham Seminar introduced and chaired by Prof. Simon Dietz, Co-Director of the Grantham Research Institute<\/h3>\n

Prof. Martin L. Weitzman<\/path><\/svg><\/a>, Professor of Economics at Harvard University, will be the speaker for this event.<\/p>\n

It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon price (the proceeds from which are domestically retained) counters self-interest. A uniform price embodies “countervailing force” against free riding by automatically incentivizing parties to internalize the externality via a simple understandable formula that embodies a common climate commitment based on principles of reciprocity, quid-pro-quo and I-will-if-you-will.<\/p>\n

The talk is somewhat technical, being centered on a mathematical model. Some implications will be discussed.<\/p>\n\n","protected":false},"excerpt":{"rendered":"\n

Grantham Seminar introduced and chaired by Prof. Simon Dietz, Co-Director of the Grantham Research Institute Prof. Martin L. Weitzman, Professor…<\/p>\n\n","protected":false},"author":12,"featured_media":0,"template":"","tags":[478],"event-type":[381],"topic_area":[],"class_list":["post-18908","event","type-event","status-publish","hentry","tag-carbon-price","event-type-seminars"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"start_date":{"ref_value":"field_52f56b18a98ba","value":"20160617","type":false,"post_type":""},"start_time":{"ref_value":"field_52f56b33a98bb","value":"1466425800","type":false,"post_type":""},"end_date":{"ref_value":"field_52f56bb58f239","value":"20160617","type":false,"post_type":""},"end_time":{"ref_value":"field_52f56bd38f23a","value":"1466431200","type":false,"post_type":""},"event_venue":{"ref_value":"field_531c65c575d35","value":"London School of Economics, Room 1.04, 32 Lincoln's Inn Fields, London WC2A 3PH","type":false,"post_type":""},"external_speaker":{"ref_value":"field_5374dcb208782","value":"Prof. Martin L. 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