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Is the problem or the solution riskier? Predictors of carbon tax policy support

Climate change is posing significant threats to human societies and developmental prospects. Governments continue to design and propose comprehensive climate policies aimed at tackling the climate crisis but often fail to successfully implement them. One reason is that securing public support for such policy instruments has proven to be challenging. While public opinion research has often documented a positive correlation between beliefs in climate change and policy support, it has also become clear that the presence of such beliefs is in many situations not enough for policy support. This is the starting point of our study in which we delve deeper into the link between climate change beliefs and policy support by specifically integrating risk perceptions related to climate change but also related to policy solutions. Empirically, we leverage survey data from the United States and Switzerland and employ the random forest technique to further explore the mechanisms that link climate change beliefs, risk perceptions, and policy support. We use the case of carbon taxation, which is considered a particularly effective instrument by ecological economists but seems to be particularly unpopular politically. The results of this study suggest that beliefs and risk perceptions are very important predictors of support for carbon tax policies. Furthermore, they unveil the strongest predictors and specific patterns that generate the highest support in the United States and Switzerland.