Marc Conte
Marc Conte is a Professor in the Economics Department at Fordham University. Professor Conte’s research has appeared in the top natural science and environmental economics journals in the world. He is a lead author on the forthcoming Biodiversity and Climate Change Assessment that was commissioned by the US Department of the Interior. He currently serves as a panelist on the New York City Panel on Climate Change. His research was cited in the 2023 Economic Report of the President of the United States. Professor Conte has received over $4 million in research funding from the Department of Agriculture, the Department of Defense, the Environmental Defense Fund, and the National Science Foundation. He occasionally teaches at the Yale School of the Environment.
Abstract:
Market failures associated with prices that do not represent the social benefits and costs of economic actions lead to an inefficient allocation of resources. Climate change is a result of such a market failure, and the incorporation of artificial intelligence (AI) into the economy faces several related challenges. To control the extent to which the growth of AI contributes to the climate crisis and places disproportionate burdens on certain members of society, two such potential market failures must be overcome to avoid potential harm to society: 1) a failure to charge AI consumers the true price of using AI tools and 2) a failure of electricity markets to charge technology companies the true cost of increased electricity production.