This economist developed “integrated assessment models” such as DICE and RICE. For 10 points each:
[10m] Name this economist who won the 2018 Nobel Prize for his work on integrating the impacts of climate change into economic models.
ANSWER: William Nordhaus
[10h] Note to players: Specific term required. DICE and RICE models are used to calculate this value, which quantifies the impact that an additional ton of emissions has on a country's economy. This value is used to estimate the effects of climate change in policy analyses.
ANSWER: social cost of carbon [prompt on cost of carbon emissions]
[10e] The DICE model is structured like a neoclassical model of this phenomenon, albeit one that adds a factor for the “natural capital” of the environment. Solow and Swan developed a model of the “exogenous” type of this phenomenon.
ANSWER: economic growth [accept exogenous growth]
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