ABSTRACT
Everybody needs the protection of the earth’s ozone layer. But some, such as light-skinned people who are more prone to skin cancer, need it more than others. Similarly, climate change involves adjustment costs, even if it brings long-run benefits to some; and climate change bringing benefits to some generally imposes costs on others. Further, given the delayed effects of today’s CFC emission activities, people (and governments) have different tradeoffs between short-term and long-term costs and benefits. So, even if all individuals and countries would gain from keeping the ozone layer intact and climate unchanged, their willingness to make sacrifices for achieving those goals may differ a great deal.
