Book Reviews

Abstract

Maximilian Auffhammer of University of California, Berkeley reviews, “Climate Change and Common Sense: Essays in Honour of Tom Schelling” by Tom Schelling. The Econlit abstract of this book begins: “Thirteen papers, written in honor of Tom Schelling, analyze the fundamental political and economic processes driving climate change policy. Papers discuss norms, conventions, and institutions to cope with climate change; credible commitments, focal points, and tipping—the strategy of climate treaty design; tipping climate negotiations; bridging reality and the theory of international environmental agreements; the cost of ambiguity and robustness in international pollution control; time and the generations; discounting while treating generations equally; emerging markets and climate change—Mexican stand-off or low-carbon race?; moving U.S. climate policy forward—whether carbon taxes are the only good alternative; carbon taxes and the green paradox; derivative markets for pollution permits and incentives to innovate; development and climate adaptation; and Schelling's conjecture on climate and development—a test. Hahn is Professor of Economics in the Sustainable Consumption Institute at the University of Manchester and Director of Economics in the Smith School at the University of Oxford. Ulph is Director in the Sustainable Consumption Institute at the University of Manchester.”