Rolling the DICE
William Nordhauss Dubious Case for a Carbon Tax
By Robert P. Murphy
This article appeared in the Fall 2009 issue of The Independent Review
The case for adopting a carbon tax to curb global warming is weaker than most economists and scientists assume. One reason is that William Nordhauss influential DICE model, far from producing a reliable estimate of an optimal carbon tax, yields vastly different results depending on which numerical estimates are plugged into it.
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