Unconventional Wisdom on Climate Change Policies
Posted in Environment on Oct 31st, 2007
“Public Policies Against Global Warming,” by Hans-Werner Sinn, CESifo Working Paper #2087, August 2007 Harold Hotelling in 1931 demonstrated how owners of non-renewable natural resources would extract that resource to maximize profits. Take the case of an oil field. Owners would optimally extract oil today if the expected return on the proceeds from the sale […]
