Scientific American: It's obvious. Global efforts to combat climate change have failed. International summits are full of hot air and greenhouse gas pollution continues to rise. If a country bails on a climate commitment, they pay a price of, well, zero.
Turns out that's okay, at least according to game theory analyses by researchers at the University of Lisbon. Their models suggest that punishment by global institutions has no effect. They also say that global summits actually impede cooperation.
Now, in a new...