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.
Original language | English |
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Pages (from-to) | 7-20 |
Number of pages | 14 |
Journal | Annual Reviews in Control |
Volume | 47 |
DOIs | |
Publication status | Published - 2019 |
Externally published | Yes |