Climate cooperation with risky solar geoengineering

Given the lack of progress on climate change mitigation, some scientists have proposed solar geoengineering as a means to manage climate change at least temporarily. One main concern with such a risky technological solution, however, is that it may create a “moral hazard” problem by crowding out efforts to reduce emissions. We investigate the potential for a risky technological solution to crowd out mitigation with theory and experiments. In a collective-risk social dilemma, players strategically act to cooperate when there is an opportunity to deploy a risky technology to help protect themselves from impending damages. In contrast to the moral hazard conjecture, the empirical results suggest that the threat of solar geoengineering can lead to an increase in cooperative behavior.