Game Theory To Save the Planet?
Climate negotiations are something that we are all well aware, and hopefully it is something that is important to all of us. Countries have met to discuss the issue multiple times and many countries have pledged to reduce their greenhouse gas emissions, but did they pledge enough? Scientists say no, it will not be enough to keep us from warming the 2 degrees Celsius that is believed to result in serious negative consequences for the world. So the question is how do we get countries to pledge to reduce their greenhouse gasses by even more. The article I have attached below suggests that climate negotiators should consult with game theorists, as they have some recommendations.
Researches performed a study with groups of 10 people that was meant to simulate climate negotiations between different countries. They found that people always agreed that they should pledge enough to make the catastrophe unlikely, then they each pledged a bit less than enough to reach that goal, and then when it came time to pay they often contributed even less than what they had pledged. Unfortunately their decision to save their money was bad news for the planet. People knew that reducing their contribution would increase the chance of a catastrophe occurring, but it would guarantee them having more money. The article ends by suggesting that we negotiate smaller more specific agreements by only involving some countries and some greenhouse gasses. Additionally it suggests that we should use the threat of trade sanctions to motivate people to contribute enough.
This is a very serious matter that should not be taken lightly. If climate negotiations continue to go as they have been then it is very likely that our world will experience a major catastrophe in the near future. Maybe game theory can save our planet, lets hope that it can.
it would be awesome if this actually happens.