Summary
To provide useful scientific advice to climate policymakers, a paradigm shift in mathematical economics is needed from general equilibrium concepts to agent-based system dynamics. For effective communication, the simulation models should be simple. This can best be achieved by developing models as a hierarchy, progressing from simple to more complex versions. Examples are given of work currently being carried out in the EU project “Global System Dynamics and Policies”.
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Hasselmann, K. (2010). Application of System Dynamics to Climate Policy Assessment. In: Fitt, A., Norbury, J., Ockendon, H., Wilson, E. (eds) Progress in Industrial Mathematics at ECMI 2008. Mathematics in Industry(), vol 15. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-12110-4_27
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DOI: https://doi.org/10.1007/978-3-642-12110-4_27
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