One economist built a model to price climate change into the economy

William Nordhaus spent decades building models -- culminating in the DICE model -- that link economic growth to the cost of carbon emissions, letting economists calculate an 'optimal' carbon price. It won him a share of the 2018 Nobel Prize in Economics, the first ever awarded explicitly for climate economics.

— William Nordhaus, The Climate Casino: Risk, Uncertainty, and Economics for a Warming World — Yale University Press, 2013
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