no code implementations • 1 Nov 2021 • Pavel V. Shevchenko, Daisuke Murakami, Tomoko Matsui, Tor A. Myrvoll
We reformulate and solve the DICE model as an optimal control dynamic programming problem with six state variables (related to the carbon concentration, temperature, and economic capital) evolving over time deterministically and affected by two controls (carbon emission mitigation rate and consumption).
