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Feedback, dynamics, and optimal control in climate economics

Title data

Kellett, Christopher M. ; Weller, Steven R. ; Faulwasser, Timm ; Grüne, Lars ; Semmler, Willi:
Feedback, dynamics, and optimal control in climate economics.
In: Annual Reviews in Control. Vol. 47 (2019) . - pp. 7-20.
ISSN 1367-5788
DOI: https://doi.org/10.1016/j.arcontrol.2019.04.003

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Project information

Project title:
Project's official titleProject's id
Australian Research Council, Discovery Project180103026
Stipendienprogramm für Postdoktoranden für Timm FaulwasserNo information

Project financing: Deutsche Forschungsgemeinschaft
ARC
Daimler und Benz Stiftung

Abstract in another language

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.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Optimal control; Nonlinear systems; Economics; Geophysical dynamics; Climate change
Institutions of the University: Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics) > Chair Mathematics V (Applied Mathematics) - Univ.-Prof. Dr. Lars Grüne)
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Applied Mathematics (Applied Mathematics)
Profile Fields
Profile Fields > Advanced Fields
Profile Fields > Advanced Fields > Nonlinear Dynamics
Research Institutions > Research Centres > Forschungszentrum für Modellbildung und Simulation (MODUS)
Research Institutions
Research Institutions > Research Centres
Result of work at the UBT: Yes
DDC Subjects: 500 Science > 510 Mathematics
Date Deposited: 17 May 2019 07:02
Last Modified: 10 Jul 2019 13:18
URI: https://eref.uni-bayreuth.de/id/eprint/48988

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