Rolling the DICE
William Nordhauss Dubious Case for a Carbon Tax
By Robert P. Murphy
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.
|Other Independent Review articles by Robert P. Murphy|
|Summer 2006||The Limits of Market Organization|