Three Essays on Application of Optimization Modeling and Monte Carlo Simulation to Consumer Demand and Carbon Sequestration
Year: 2010
Type: article
Abstract: This dissertation is composed of three chapters with applications of optimization modeling and Monte Carlo simulation to consumer demand system analysis and land based carbon sequestration.The first essay analyzes the influences of food scares such as BSE and the bird flu on fresh meat consumption in South Korea and Japan.The regression analysis results revealed the significance of most media parameters.The simulation results showed potential consumer reactions to newspaper articles about food safety by using the Monte Carlo simulation technique.The results also provide useful information for predicting prospective damages and setting up countermeasures in case of another outbreak of the same disease in the future.The second essay analyzes the effect of uncertainty in several key parameters on land based carbon sequestration.These parameters include the land supply elasticity, the forest biomass yield function, and the cost of an increase in the endowment in deforestation regions.The least square linearization is used to determine the relative contribution of input parameters to the model results.Five hundred model runs in one simulation were performed.The Monte Carlo simulations indicated that most of the uncertainty in forest areas in developed countries relates to uncertainty in the parameters of the biomass function, whereas in developing countries, where deforestation is more important (e.g., Brazil), the simulation showed the parameters of land supply elasticity to
Author: Yoon Hyung Kim
Institution: The Ohio State University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDGs: Climate action, Zero hunger
Open Access status: green
OpenAlex ID: W2272175290