The close and complex relation between climate dynamics – i.e. Earth’s carbon cycle and temperature dynamics – and economic activity is the fundamental phenomenon whose understanding is crucial for pivotal decisions to make and generations to come. Prime examples of the gravity of the discussions around these topics, are the Paris climate agreement (COP 21) which attempts to limit global warming to below 2° or the Nobel memorial price awarded to Prof. William Nordhaus in 2018.
In this context, we employ tools form systems and control to analysis integrated assessment model for climate economy interactions.
- Kellett, C. M., Weller, S. R., Faulwasser, T., Grüne, L., & Semmler, W. (2019). Feedback, dynamics, and optimal control in climate economics. Annual Reviews in Control.
- Faulwasser, T., Kellett, C. M., & Weller, S. R. (2018). MPC-DICE: An open-source Matlab implementation of receding horizon solutions to DICE. IFAC-PapersOnLine, 51(5), 120-125.