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Global Warming: Technology, Preferences and Policy

Author

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  • Birchenhall Chris

    (Honorary Fellow, Economics, Arthur Lewis Building- 2.016, School of Social Science, University of Manchester, Manchester M13 9PL, UK)

  • Windrum Paul

    (Nottingham University Business School, Jubilee Campus, Nottingham NG8 1BB, UK)

Abstract

Global warming is a market failure in that the market prices of goods do not reflect the externality imposed on us all by the green house gases (GHGs) emitted in their production. To date global politics has not provided an effective agreement on how to abate these emissions. Over and above market failure there is political failure. A proper understanding of this fundamental institutional failure requires us to consider the interaction between producers, consumers and politics. We aim to offer a brief introduction to some of the issues involved and point to an evolutionary analysis in which technology, preferences and policies coevolve.

Suggested Citation

  • Birchenhall Chris & Windrum Paul, 2014. "Global Warming: Technology, Preferences and Policy," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 366-387, April.
    • Handle: RePEc:jns:jbstat:v:234:y:2014:i:2-3:p:366-387
    DOI: 10.1515/jbnst-2014-2-314
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    References listed on IDEAS

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