In light of the situation described above, how does game theory suggest that countries are able to cooperate to abate global carbon emissions?

Answers

Game theory suggests that countries should cooperate with one another to abate global carbon emissions by forming a binding international agreement. This agreement could involve creating incentives for countries to reduce their carbon emissions (e.g. via a global carbon tax or an emissions trading scheme), or creating disincentives for countries to emit excessive carbon (e.g. by punishing countries for non-compliance). Additionally, countries could also cooperate to develop new technologies and approaches that are more effective at addressing the global climate crisis. By creating an agreement that requires countries to share the costs and benefits of reducing global carbon emissions, countries would be more likely to work together and cooperate in order to avoid the negative consequences of climate change.

Answered by elizabeth29

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