- Title
- Feedback, dynamics, and optimal control in climate economics
- Creator
- Kellett, Christopher M.; Weller, Steven R.; Faulwasser, Timm; Grüne, Lars; Semmler, Willi
- Relation
- ARC.DP180103026 http://purl.org/au-research/grants/arc/DP180103026
- Relation
- Annual Reviews in Control Vol. 47, p. 7-20
- Publisher Link
- http://dx.doi.org/10.1016/j.arcontrol.2019.04.003
- Publisher
- Elsevier
- Resource Type
- journal article
- Date
- 2019
- Description
- 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.
- Subject
- optimal control; nonlinear systems; economics; geophysical dynamics; climate change; SDG 8; SDG 13; Sustainable Development Goals
- Identifier
- http://hdl.handle.net/1959.13/1443820
- Identifier
- uon:42110
- Identifier
- ISSN:1367-5788
- Rights
- © 2019. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
- Language
- eng
- Full Text
- Reviewed
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Collections
Goal 8: Decent Work and Economic Growth
Goal 13: Climate Change
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|---|---|---|---|---|---|---|---|
| View Details Download | ATTACHMENT02 | Author final version | 1 MB | Adobe Acrobat PDF | View Details Download |