Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Egg-Timer: Climate Finance and Carbon Policy Location: D-110 Session Chair: Jeroen van den Bergh, Autonomous University of Barcelona | |
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Optimal trajectory of carbon pricing under a public-support constraint and opinion dynamics 1: UAB, Spain; 2: ICREA, Spain; 3: Vrije Universiteit Amsterdam, The Netherlands This paper develops an analytical model to determine the optimal trajectory of carbon taxation under a carbon budget and a public-support constraint. Public support is modeled as an endogenous state variable, determined by tax levels and opinion dynamics. We find that the optimal tax path depends on the marginal sensitivities of public support and emissions to tax changes as well as on the characteristics of opinion dynamics. In particular, under conformist opinion dynamics, a low initial tax can generate strong public support, in turn triggering positive feedback that allows for subsequent tax increases. In contrast, when opinion dynamics are non-conformist, a flatter tax is preferable. | |