Computer Science > Systems and Control
[Submitted on 19 Dec 2018 (v1), last revised 19 Mar 2019 (this version, v2)]
Title:Feedback, Dynamics, and Optimal Control in Climate Economics
View PDFAbstract: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.
Submission history
From: Timm Faulwasser [view email][v1] Wed, 19 Dec 2018 16:33:20 UTC (356 KB)
[v2] Tue, 19 Mar 2019 14:21:00 UTC (575 KB)
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