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Consider a group of people (about 7 billion of them) on a planet like Earth who all have a good income by current US standards.
Consider a group of people (about 7 billion of them) on a planet like Earth who all have a good income by current US standards. All electricity is generated by burning coal, which emits carbon dioxide that warms the atmosphere. Because of carbon dioxide emissions, the average temperature on this planet is rising. Everybody is selfish. High-quality air conditioners are available at a modest price; these will allow people to be comfortable when indoors at higher temperatures, but require electricity to operate. As a result, everyone would prefer to buy and operate an air conditioner to deal with climate change. This situation is an example of: (O Pareto optimality (O Prisoners' dlilemma (O Specialization (O Coordination games (O Game of chicken
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