Drouet, L.; Edwards, N. R. and Haurie, A.
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|DOI (Digital Object Identifier) Link:||https://doi.org/10.1007/s10666-006-9047-5|
|Google Scholar:||Look up in Google Scholar|
In this paper we present a general method, based on a convex optimisation technique, that facilitates the coupling of climate and economic models in a cost-benefit framework. As a demonstration of the method, we couple an economic growth model à la Ramsey adapted from DICE-99 with an efficient intermediate complexity climate model, C-GOLDSTEIN, which has highly simplified physics, but fully 3-D ocean dynamics. As in DICE-99 we assume that an economic cost is associated with global temperature change: this change is obtained from the climate model which is driven by the GHG concentrations computed from the economic growth path. The work extends a previous paper in which these models were coupled in cost-effectiveness mode. Here we consider the more intricate cost-benefit coupling in which the climate impact is not fixed a priori. We implement the coupled model using an oracle-based optimisation technique. Each model is contained in an oracle which supplies model output and information on its sensitivity to a master program. The algorithm Proximal-ACCPM guarantees the convergence of the procedure under sufficient convexity assumptions. Our results demonstrate the possibility of a consistent, cost-benefit, climate-damage optimisation analysis with a 3-D climate model.
|Item Type:||Journal Article|
|Copyright Holders:||2006 Springer|
|Project Funding Details:||
|Extra Information:||The original publication is available at www.springerlink.com|
|Keywords:||integrated assessment model; coupling; economy; climate; convex optimization; oracle|
|Academic Unit/School:||Faculty of Science, Technology, Engineering and Mathematics (STEM) > Environment, Earth and Ecosystem Sciences
Faculty of Science, Technology, Engineering and Mathematics (STEM)
|Interdisciplinary Research Centre:||Centre for Earth, Planetary, Space and Astronomical Research (CEPSAR)
International Development & Inclusive Innovation
|Depositing User:||Neil Edwards|
|Date Deposited:||04 Apr 2011 08:35|
|Last Modified:||10 Feb 2017 13:12|
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