Year: 2018
Type: preprint
Abstract: For his work in the economics of climate change, Professor William Nordhaus was a co-recipient of the 2018 Nobel Memorial Prize for Economic Sciences. A core component of the work undertaken by Nordhaus is the Dynamic Integrated model of Climate and Economy, known as the DICE model. The DICE model is a discrete-time model with two control inputs and is primarily used in conjunction with a particular optimal control problem in order to estimate optimal pathways for reducing greenhouse gas emissions. In this paper, we provide a tutorial introduction to the DICE model and we indicate challenges and open problems of potential interest for the systems and control community.
Source: arXiv (Cornell University)
Institutions: University of Newcastle Australia, Karlsruhe Institute of Technology, International Institute for Applied Systems Analysis, FIZ Karlsruhe – Leibniz Institute for Information Infrastructure, Bielefeld University, Kerntechnische Entsorgung Karlsruhe (Germany), University of Bayreuth, The New School
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDG: Climate action
Open Access status: green
Funder: Australian Research Council
OpenAlex ID: W2949915684