Optimal Control in Space and Time and the Management of Environmental Resources

Brock, William A.; Xepapadeas, Anastasios; Yannacopoulos, A. N.

doi:10.1146/annurev-resource-100913-012411

Cited by 27 publications

(27 citation statements)

References 68 publications

(59 reference statements)

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“…Ortiz and Markandya (2009) and Stanton et al (2009) review some of these models; see also Meyers (2012, pp. 5399-5428), Pindyck (2013), Stern (2013), Brock et al (2014) and Brock and Xepapadeas (2015) for a review and critique of the relevant literature on IAMs in climate economics, as well as recent literature on inter-temporal, spatial and dynamic environmental economic 20 modeling.…”

Section: Introductionmentioning

confidence: 99%

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Ogutu

D’Andrea

Ghil

et al. 2017

Preprint

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Abstract. In the present Part 1 of a two-part paper, we formulate and study a simple Coupled Climate-Economy-Biosphere 15 (CoCEB) model. This highly idealized model constitutes the basis of our integrated assessment approach to understanding the various feedbacks involved in the system. CoCEB is composed of a physical climate module, based on Earth's energy balance, and an economy module that uses endogenous economic growth with physical and human capital accumulation. We concentrate on the interactions between the two subsystems: the effect of climate on the economy, via damage functions, and the effect of the economy on climate, via control of greenhouse gas emissions. Simple functional forms of the relation 20 between the two subsystems permit simple interpretations of the coupled effects. The CoCEB model is used to evaluate hypotheses on the long-term effect of investment in emission abatement, and on the comparative efficacy of different approaches to abatement. In this paper, we consider investments in low-carbon technologies. Carbon capture and storage (CCS), along with deforestation reduction, will be dealt with in Part 2. The CoCEB model is highly flexible and transparent; as such, it allows one to easily formulate and compare different functional representations of climate change mitigation 25 policies. Using different mitigation measures and their cost estimates, as found in the literature, one is able to compare these measures in a coherent way. While many studies in the climate-economic literature treat abatement costs merely as an unproductive loss of income, this paper shows that mitigation costs do slow down economic growth over the next few decades, but only up to the mid-21st century or even earlier; growth reduction is compensated later on by having avoided negative impacts of climate change on the economy.

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Section: Introductionmentioning

confidence: 99%

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Ogutu

D’Andrea

Ghil

et al. 2017

Preprint

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“…A review of the literature on harvesting of spatially distributed resource is given in Brock et al [34]. This literature has increased a lot since then.…”

Section: Harvestingmentioning

confidence: 99%

Distributed optimal control models in environmental economics: a review

Augeraud-Véron¹,

Boucekkine²,

Veliov³

2019

Math. Model. Nat. Phenom.

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We review the most recent advances in distributed optimal control applied to Environmental Economics, covering in particular problems where the state dynamics are governed by partial differential equations (PDEs). This is a quite fresh application area of distributed optimal control, which has already suggested several new mathematical research lines due to the specificities of the Environmental Economics problems involved. We enhance the latter through a survey of the variety of themes and associated mathematical structures beared by this literature. We also provide a quick tour of the existing tools in the theory of distributed optimal control that have been applied so far in Environmental Economics.

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“…A few of the most recent sources that also give critiques are Nordhaus (2008Nordhaus ( , 2013, Pindyck (2013aPindyck ( , 2013c, and Stern (2013). Brock, Xepapadeas, and Yannacopoulos (2014b) review recent literature on inter-temporal spatial dynamic environmental economic modeling. Rather than going over terrain that is competently covered elsewhere, this section discusses some very recent work that emphasizes spatial transport phenomena in climate-economics models and also reviews a cumulative carbon budgeting approach that abstracts from the di¢ cult issues surrounding the parametric speci…cation of a damage function.…”

Section: Some Recent Work In Climate Economicsmentioning

confidence: 99%

“…Problem (134) which has been studied by Derzko et al (1984), Brock and Xepapadeas (2008), and Brock, Xepapadeas, and Yannacopoulos (2014b), has a Hamiltonian representation:…”

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confidence: 99%

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Modeling Coupled Climate, Ecosystems, and Economic Systems

Brock¹,

Xepapadeas²

2015

SSRN Journal

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Human economies and ecosystems form a coupled system coevolving in time and space, since human economies use ecosystems services and at the same time a¤ect ecosystems through their production and consumption activities. The study of the interactions between human economies and ecosystems is fundamental for the e¢ cient use of natural resources and the protection of the environment. This necessitates the development and use of models capable of tracing the main interactions, links and feedbacks. In developing this chapter, our objective was to focus on a segment of rapidly developing literature on coupled ecological/economic models with an emphasis on climate change. The advantage of this approach is that it introduces the reader to a very important current research topic, but it also allows, by using climate as the reference ecosystem, the exploration of new modeling approaches which are relevant and useful for the modeling of other types of coupled ecological/economic systems. These include modeling of deep structural uncertainty by using robust control methods, exploring modeling through cumulative carbon budgeting, studying spatial transport phenomena and spatial aspects in economic/ecological modelling.

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Optimal Control in Space and Time and the Management of Environmental Resources

Cited by 27 publications

References 68 publications

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Distributed optimal control models in environmental economics: a review

Modeling Coupled Climate, Ecosystems, and Economic Systems

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