Climate Economics: Solar Radiation Management

This lecture covers the economics of climate change, focusing on solar radiation management as a potential solution. It discusses the effectiveness, risks, and governance of solar radiation management, highlighting the potential for unilateral action and the challenges of large externalities and uncertainties. The lecture also explores the concept of preferences in economics, tracing the evolution of value attribution from the classical to neoclassical periods and the challenges of static preferences in mitigating climate change. It delves into the dilemma of changing preferences, analyzing policy levers and the potential for social transformation. The session concludes with a discussion on preference change, examining the methods and challenges of altering individual and societal preferences.