IDEAS home Printed from https://ideas.repec.org/a/eee/ecolec/v138y2017icp252-265.html
   My bibliography  Save this article

Complexity and the Economics of Climate Change: A Survey and a Look Forward

Author

Listed:
  • Balint, T.
  • Lamperti, F.
  • Mandel, A.
  • Napoletano, M.
  • Roventini, A.
  • Sapio, A.

Abstract

Climate change is one of the most daunting challenges human kind has ever faced. In the paper, we provide a survey of the micro and macro economics of climate change from a complexity science perspective and we discuss the challenges ahead for this line of research. We identify four areas of the literature where complex system models have already produced valuable insights: (i) coalition formation and climate negotiations, (ii) macroeconomic impacts of climate-related events, (iii) energy markets and (iv) diffusion of climate-friendly technologies. On each of these issues, accounting for heterogeneity, interactions and disequilibrium dynamics provides a complementary and novel perspective to the one of standard equilibrium models. Furthermore, it highlights the potential economic benefits of mitigation and adaptation policies and the risk of under-estimating systemic climate change-related risks.

Suggested Citation

  • Balint, T. & Lamperti, F. & Mandel, A. & Napoletano, M. & Roventini, A. & Sapio, A., 2017. "Complexity and the Economics of Climate Change: A Survey and a Look Forward," Ecological Economics, Elsevier, vol. 138(C), pages 252-265.
    • Handle: RePEc:eee:ecolec:v:138:y:2017:i:c:p:252-265
    DOI: 10.1016/j.ecolecon.2017.03.032
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S092180091630828X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ecolecon.2017.03.032?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Junjie Sun & Leigh Tesfatsion, 2007. "Dynamic Testing of Wholesale Power Market Designs: An Open-Source Agent-Based Framework," Computational Economics, Springer;Society for Computational Economics, vol. 30(3), pages 291-327, October.
    2. Daron Acemoglu & Philippe Aghion & Leonardo Bursztyn & David Hemous, 2012. "The Environment and Directed Technical Change," American Economic Review, American Economic Association, vol. 102(1), pages 131-166, February.
    3. Henriet, Fanny & Hallegatte, Stéphane & Tabourier, Lionel, 2012. "Firm-network characteristics and economic robustness to natural disasters," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 150-167.
    4. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "WITCH. A World Induced Technical Change Hybrid Model," Working Papers 2006_46, Department of Economics, University of Venice "Ca' Foscari".
    5. Stefano Balbi & Carlo Giupponi, 2010. "Agent-Based Modelling of Socio-Ecosystems: A Methodology for the Analysis of Adaptation to Climate Change," International Journal of Agent Technologies and Systems (IJATS), IGI Global, vol. 2(4), pages 17-38, October.
    6. Yasuhide Okuyama & Joost R. Santos, 2014. "Disaster Impact And Input--Output Analysis," Economic Systems Research, Taylor & Francis Journals, vol. 26(1), pages 1-12, March.
    7. Rassenti, Stephen J & Smith, Vernon L & Wilson, Bart J, 2003. "Discriminatory Price Auctions in Electricity Markets: Low Volatility at the Expense of High Price Levels," Journal of Regulatory Economics, Springer, vol. 23(2), pages 109-123, March.
    8. Campiglio, Emanuele, 2016. "Beyond carbon pricing: The role of banking and monetary policy in financing the transition to a low-carbon economy," Ecological Economics, Elsevier, vol. 121(C), pages 220-230.
    9. Rory Smead & Ronald L. Sandler & Patrick Forber & John Basl, 2014. "A bargaining game analysis of international climate negotiations," Nature Climate Change, Nature, vol. 4(6), pages 442-445, June.
    10. Valentina Bosetti & Marco Maffezzoli, 2013. "Taxing Carbon under Market Incompleteness," Working Papers 2013.72, Fondazione Eni Enrico Mattei.
    11. Sarah Wolf & Steffen Fürst & Antoine Mandel & Wiebke Lass & Daniel Lincke & Federico Pablo-Marti & Carlo Jaeger, 2013. "A multi-agent model of several economic regions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00825217, HAL.
    12. Denton, Michael J. & Rassenti, Stephen J. & Smith, Vernon L., 2001. "Spot market mechanism design and competitivity issues in electric power," Journal of Economic Behavior & Organization, Elsevier, vol. 44(4), pages 435-453, April.
    13. Bunn, Derek W. & Martoccia, Maria, 2005. "Unilateral and collusive market power in the electricity pool of England and Wales," Energy Economics, Elsevier, vol. 27(2), pages 305-315, March.
    14. Künneke, Rolf & Groenewegen, John & Ménard, Claude, 2010. "Aligning modes of organization with technology: Critical transactions in the reform of infrastructures," Journal of Economic Behavior & Organization, Elsevier, vol. 75(3), pages 494-505, September.
    15. Lamperti, F. & Dosi, G. & Napoletano, M. & Roventini, A. & Sapio, A., 2018. "Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model," Ecological Economics, Elsevier, vol. 150(C), pages 315-339.
    16. Koen Frenken & Luigi Marengo & Marco Valente, 1999. "Interdependencies, nearly-decomposability and adaption," CEEL Working Papers 9903, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
    17. Guerci, E. & Ivaldi, S. & Pastore, S. & Cincotti, S., 2005. "Modeling and implementation of an artificial electricity market using agent-based technology," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 355(1), pages 69-76.
    18. Anaya, Karim L. & Pollitt, Michael G., 2015. "Integrating distributed generation: Regulation and trends in three leading countries," Energy Policy, Elsevier, vol. 85(C), pages 475-486.
    19. Barrett, Scott, 1994. "Self-Enforcing International Environmental Agreements," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 878-894, Supplemen.
    20. Benchekroun Hassan & Claude Denis, 2007. "Tax Differentials and the Segmentation of Networks of Cooperation in Oligopoly," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 7(1), pages 1-11, July.
    21. Robert Lempert & Jürgen Scheffran & Detlef F. Sprinz, 2009. "Methods for Long-Term Environmental Policy Challenges," Global Environmental Politics, MIT Press, vol. 9(3), pages 106-133, August.
    22. Robert Bierkandt & Leonie Wenz & Sven Norman Willner & Anders Levermann, 2014. "Acclimate—a model for economic damage propagation. Part 1: basic formulation of damage transfer within a global supply network and damage conserving dynamics," Environment Systems and Decisions, Springer, vol. 34(4), pages 507-524, December.
    23. J. -F. Mercure & H. Pollitt & A. M. Bassi & J. E Vi~nuales & N. R. Edwards, 2015. "Modelling complex systems of heterogeneous agents to better design sustainability transitions policy," Papers 1506.07432, arXiv.org, revised Feb 2016.
    24. Graham M Turner, 2008. "A Comparison of the Limits to Growth with Thirty Years of Reality," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2008-09, CSIRO Sustainable Ecosystems.
    25. Francesco Lamperti, 2016. "Empirical Validation of Simulated Models through the GSL-div: an Illustrative Application," LEM Papers Series 2016/18, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    26. Dosi, Giovanni & Fagiolo, Giorgio & Napoletano, Mauro & Roventini, Andrea, 2013. "Income distribution, credit and fiscal policies in an agent-based Keynesian model," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1598-1625.
    27. Derek Bunn & Fernando Oliveira, 2003. "Evaluating Individual Market Power in Electricity Markets via Agent-Based Simulation," Annals of Operations Research, Springer, vol. 121(1), pages 57-77, July.
    28. Grazzini, Jakob & Richiardi, Matteo G. & Tsionas, Mike, 2017. "Bayesian estimation of agent-based models," Journal of Economic Dynamics and Control, Elsevier, vol. 77(C), pages 26-47.
    29. Anonymous, 2013. "Introduction to the Issue," Journal of Wine Economics, Cambridge University Press, vol. 8(2), pages 129-130, November.
    30. James Nicolaisen & Valentin Petrov & Leigh Tesfatsion, 2000. "Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing," Computational Economics 0004005, University Library of Munich, Germany.
    31. Frank Beckenbach & Ramón Briegel, 2010. "Multi-agent modeling of economic innovation dynamics and its implications for analyzing emission impacts," International Economics and Economic Policy, Springer, vol. 7(2), pages 317-341, August.
    32. Michael Hoel & Kerstin Schneider, 1997. "Incentives to participate in an international environmental agreement," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(2), pages 153-170, March.
    33. Battiston, Stefano & Delli Gatti, Domenico & Gallegati, Mauro & Greenwald, Bruce & Stiglitz, Joseph E., 2012. "Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk," Journal of Economic Dynamics and Control, Elsevier, vol. 36(8), pages 1121-1141.
    34. Dosi, Giovanni & Fagiolo, Giorgio & Roventini, Andrea, 2010. "Schumpeter meeting Keynes: A policy-friendly model of endogenous growth and business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1748-1767, September.
    35. Sylvain Barde, 2017. "A Practical, Accurate, Information Criterion for Nth Order Markov Processes," Computational Economics, Springer;Society for Computational Economics, vol. 50(2), pages 281-324, August.
    36. Sáenz de Miera, Gonzalo & del Ri­o González, Pablo & Vizcaino, Ignacio, 2008. "Analysing the impact of renewable electricity support schemes on power prices: The case of wind electricity in Spain," Energy Policy, Elsevier, vol. 36(9), pages 3345-3359, September.
    37. Jackson, Jerry, 2010. "Improving energy efficiency and smart grid program analysis with agent-based end-use forecasting models," Energy Policy, Elsevier, vol. 38(7), pages 3771-3780, July.
    38. Julie Rozenberg & Céline Guivarch & Robert Lempert & Stéphane Hallegatte, 2014. "Building SSPs for climate policy analysis: a scenario elicitation methodology to map the space of possible future challenges to mitigation and adaptation," Climatic Change, Springer, vol. 122(3), pages 509-522, February.
    39. Ventosa, Mariano & Baillo, Alvaro & Ramos, Andres & Rivier, Michel, 2005. "Electricity market modeling trends," Energy Policy, Elsevier, vol. 33(7), pages 897-913, May.
    40. Perdan, Slobodan & Azapagic, Adisa, 2011. "Carbon trading: Current schemes and future developments," Energy Policy, Elsevier, vol. 39(10), pages 6040-6054, October.
    41. Vona, Francesco & Patriarca, Fabrizio, 2011. "Income inequality and the development of environmental technologies," Ecological Economics, Elsevier, vol. 70(11), pages 2201-2213, September.
    42. Tooraj Jamasb and Michael Pollitt, 2005. "Electricity Market Reform in the European Union: Review of Progress toward Liberalization & Integration," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 11-42.
    43. Eric Guerci & Mohammad Ali Rastegar & Silvano Cincotti, 2010. "Agent-based modeling and simulation of competitive wholesale electricity markets," Post-Print halshs-00871063, HAL.
    44. Eric Guerci & Alessandro Sapio, 2012. "High wind penetration in an agent-based model of the electricity market," Post-Print halshs-00871036, HAL.
    45. Robert S. Pindyck, 2013. "Climate Change Policy: What Do the Models Tell Us?," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 860-872, September.
    46. Eric Guerci & Alessandro Sapio, 2012. "High wind Penetration in an Agent-Based Model of the Electricity Market. The Case of Italy," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 415-447.
    47. Weidlich, Anke & Veit, Daniel, 2008. "A critical survey of agent-based wholesale electricity market models," Energy Economics, Elsevier, vol. 30(4), pages 1728-1759, July.
    48. repec:hal:pseose:halshs-00825217 is not listed on IDEAS
    49. Anna, Petrenko, 2016. "Мaркування готової продукції як складова частина інформаційного забезпечення маркетингової діяльності підприємств овочепродуктового підкомплексу," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 2(1), March.
    50. Bronwyn H. Hall & Nathan Rosenberg (ed.), 2010. "Handbook of the Economics of Innovation," Handbook of the Economics of Innovation, Elsevier, edition 1, volume 1, number 1.
    51. Bower, John & Bunn, Derek, 2001. "Experimental analysis of the efficiency of uniform-price versus discriminatory auctions in the England and Wales electricity market," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 561-592, March.
    52. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    53. Giorgio Fagiolo & Andrea Roventini, 2017. "Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 20(1), pages 1-1.
    54. Allan, Corey & Jaffe, Adam B. & Sin, Isabelle, 2014. "Diffusion of Green Technology: A Survey," International Review of Environmental and Resource Economics, now publishers, vol. 7(1), pages 1-33, April.
    55. J. Doyne Farmer & Duncan Foley, 2009. "The economy needs agent-based modelling," Nature, Nature, vol. 460(7256), pages 685-686, August.
    56. Eric Guerci & Stefano Ivaldi & Silvano Cincotti, 2008. "Learning Agents in an Artificial Power Exchange: Tacit Collusion, Market Power and Efficiency of Two Double-auction Mechanisms," Computational Economics, Springer;Society for Computational Economics, vol. 32(1), pages 73-98, September.
    57. Browne, Oliver & Poletti, Stephen & Young, David, 2015. "How does market power affect the impact of large scale wind investment in 'energy only' wholesale electricity markets?," Energy Policy, Elsevier, vol. 87(C), pages 17-27.
    58. Dirk Helbing, 2013. "Globally networked risks and how to respond," Nature, Nature, vol. 497(7447), pages 51-59, May.
    59. Bunn, Derek W. & Muñoz, José I., 2016. "Supporting the externality of intermittency in policies for renewable energy," Energy Policy, Elsevier, vol. 88(C), pages 594-602.
    60. Bernhard Rengs & Manuel Scholz-Wäckerle & Ardjan Gazheli & Miklós Antal & Jeroen C.J.M. van den Bergh, 2015. "Testing Innovation, Employment and Distributional Impacts of Climate Policy Packages in a Macro-evolutionary Systems Setting. WWWforEurope Working Paper No. 83," WIFO Studies, WIFO, number 57891, March.
    61. Leonie Wenz & Sven Norman Willner & Robert Bierkandt & Anders Levermann, 2014. "Acclimate—a model for economic damage propagation. Part II: a dynamic formulation of the backward effects of disaster-induced production failures in the global supply network," Environment Systems and Decisions, Springer, vol. 34(4), pages 525-539, December.
    62. Sergey V. Buldyrev & Roni Parshani & Gerald Paul & H. Eugene Stanley & Shlomo Havlin, 2010. "Catastrophic cascade of failures in interdependent networks," Nature, Nature, vol. 464(7291), pages 1025-1028, April.
    63. Malte Schwoon, 2006. "Simulating the adoption of fuel cell vehicles," Journal of Evolutionary Economics, Springer, vol. 16(4), pages 435-472, October.
    64. Giovanni Dosi & Marco Grazzi, 2009. "Energy, Development and the Environment: An Appraisal Three Decades After the ‘Limits to Growth’ Debate," Chapters, in: Andreas Pyka & Uwe Cantner & Alfred Greiner & Thomas Kuhn (ed.), Recent Advances in Neo-Schumpeterian Economics, chapter 2, Edward Elgar Publishing.
    65. Michèle Breton & Lucia Sbragia & Georges Zaccour, 2010. "A Dynamic Model for International Environmental Agreements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 25-48, January.
    66. Severin Borenstein & James. Bushnell & Steven Stoft, 2000. "The Competitive Effects of Transmission Capacity in A Deregulated Electricity Industry," RAND Journal of Economics, The RAND Corporation, vol. 31(2), pages 294-325, Summer.
    67. Eric Guerci & Alessandro Sapio, 2011. "Comparison and empirical validaton of optimizing and agent-based models of the Italian electricity market," Post-Print halshs-00871126, HAL.
    68. Pizer, William A. & Popp, David, 2008. "Endogenizing technological change: Matching empirical evidence to modeling needs," Energy Economics, Elsevier, vol. 30(6), pages 2754-2770, November.
    69. Banal-Estañol, Albert & Rupérez Micola, Augusto, 2011. "Behavioural simulations in spot electricity markets," European Journal of Operational Research, Elsevier, vol. 214(1), pages 147-159, October.
    70. Armon Rezai & Sigrid Stagl, 2016. "Ecological Macreconomics: Introduction and Review," Ecological Economics Papers ieep9, Institute of Ecological Economics.
    71. Kowalska-Pyzalska, Anna & Maciejowska, Katarzyna & Suszczyński, Karol & Sznajd-Weron, Katarzyna & Weron, Rafał, 2014. "Turning green: Agent-based modeling of the adoption of dynamic electricity tariffs," Energy Policy, Elsevier, vol. 72(C), pages 164-174.
    72. Marcelo Saguan & Philippe Dessante & Jean-Michel Glachant & Nenad Keseric, 2006. "Market Power in Power Markets : Game theory vs. Agent-based approach," Post-Print hal-00257399, HAL.
    73. Elmar Kiesling & Markus Günther & Christian Stummer & Lea Wakolbinger, 2012. "Agent-based simulation of innovation diffusion: a review," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 20(2), pages 183-230, June.
    74. Guerini, Mattia & Moneta, Alessio, 2017. "A method for agent-based models validation," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 125-141.
    75. Marco Bardoscia & Stefano Battiston & Fabio Caccioli & Guido Caldarelli, 2015. "DebtRank: A Microscopic Foundation for Shock Propagation," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-13, June.
    76. Dosi, Giovanni & Nelson, Richard R., 2010. "Technical Change and Industrial Dynamics as Evolutionary Processes," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 51-127, Elsevier.
    77. Gilli, M. & Winker, P., 2003. "A global optimization heuristic for estimating agent based models," Computational Statistics & Data Analysis, Elsevier, vol. 42(3), pages 299-312, March.
    78. Steven Sorrell, 2003. "Carbon Trading in the Policy Mix," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 19(3), pages 420-437.
    79. Janssen, Marco A. & Ostrom, Elinor, 2006. "Governing Social-Ecological Systems," Handbook of Computational Economics, in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 30, pages 1465-1509, Elsevier.
    80. Geroski, P. A., 2000. "Models of technology diffusion," Research Policy, Elsevier, vol. 29(4-5), pages 603-625, April.
    81. Mario Mureddu & Guido Caldarelli & Alessandro Chessa & Antonio Scala & Alfonso Damiano, 2015. "Green Power Grids: How Energy from Renewable Sources Affects Networks and Markets," PLOS ONE, Public Library of Science, vol. 10(9), pages 1-15, September.
    82. Elliston, Ben & Diesendorf, Mark & MacGill, Iain, 2012. "Simulations of scenarios with 100% renewable electricity in the Australian National Electricity Market," Energy Policy, Elsevier, vol. 45(C), pages 606-613.
    83. Malte Schwoon, 2005. "Simulating the Adoption of Fuel Cell Vehicles," Working Papers FNU-59, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2006.
    84. Kai Lessmann & Ulrike Kornek & Valentina Bosetti & Rob Dellink & Johannes Emmerling & Johan Eyckmans & Miyuki Nagashima & Hans-Peter Weikard & Zili Yang, 2015. "The Stability and Effectiveness of Climate Coalitions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(4), pages 811-836, December.
    85. Rory Smead & Ronald L. Sandler & Patrick Forber & John Basl, 2014. "Addendum: A bargaining game analysis of international climate negotiations," Nature Climate Change, Nature, vol. 4(9), pages 840-840, September.
    86. Roberto Pasqualino & Aled W. Jones & Irene Monasterolo & Alexander Phillips, 2015. "Understanding Global Systems Today—A Calibration of the World3-03 Model between 1995 and 2012," Sustainability, MDPI, vol. 7(8), pages 1-26, July.
    87. Richard L. Revesz & Peter H. Howard & Kenneth Arrow & Lawrence H. Goulder & Robert E. Kopp & Michael A. Livermore & Michael Oppenheimer & Thomas Sterner, 2014. "Global warming: Improve economic models of climate change," Nature, Nature, vol. 508(7495), pages 173-175, April.
    88. Stéphane Hallegatte, 2014. "Modeling the Role of Inventories and Heterogeneity in the Assessment of the Economic Costs of Natural Disasters," Risk Analysis, John Wiley & Sons, vol. 34(1), pages 152-167, January.
    89. Gerald Silverberg & Giovanni Dosi & Luigi Orsenigo, 2000. "Innovation, Diversity and Diffusion: A Self-Organisation Model," Chapters, in: Innovation, Organization and Economic Dynamics, chapter 14, pages 410-432, Edward Elgar Publishing.
    90. Anonymous, 2013. "Introduction to the Issue," Journal of Wine Economics, Cambridge University Press, vol. 8(3), pages 243-243, December.
    91. Martin L. Weitzman, 2013. "Tail-Hedge Discounting and the Social Cost of Carbon," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 873-882, September.
    92. Mariana Mazzucato, 2015. "The Green Entrepreneurial State," SPRU Working Paper Series 2015-28, SPRU - Science Policy Research Unit, University of Sussex Business School.
    93. Nicholas Stern, 2016. "Economics: Current climate models are grossly misleading," Nature, Nature, vol. 530(7591), pages 407-409, February.
    94. Janssen, Marco A. & Jager, Wander, 2001. "Fashions, habits and changing preferences: Simulation of psychological factors affecting market dynamics," Journal of Economic Psychology, Elsevier, vol. 22(6), pages 745-772, December.
    95. Leigh Tesfatsion & Kenneth L. Judd (ed.), 2006. "Handbook of Computational Economics," Handbook of Computational Economics, Elsevier, edition 1, volume 2, number 2.
    96. Janssen, Marco & de Vries, Bert, 1998. "The battle of perspectives: a multi-agent model with adaptive responses to climate change," Ecological Economics, Elsevier, vol. 26(1), pages 43-65, July.
    97. J. Farmer & Cameron Hepburn & Penny Mealy & Alexander Teytelboym, 2015. "A Third Wave in the Economics of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 329-357, October.
    98. Li, Hongyan & Tesfatsion, Leigh, 2009. "Development of Open Source Software for Power Market Research: The AMES Test Bed," ISU General Staff Papers 200901010800001391, Iowa State University, Department of Economics.
    99. Nordhaus, William D., 1993. "Rolling the 'DICE': an optimal transition path for controlling greenhouse gases," Resource and Energy Economics, Elsevier, vol. 15(1), pages 27-50, March.
    100. Franke, Reiner & Westerhoff, Frank, 2012. "Structural stochastic volatility in asset pricing dynamics: Estimation and model contest," Journal of Economic Dynamics and Control, Elsevier, vol. 36(8), pages 1193-1211.
    101. Rothkopf, Michael H., 1999. "Daily Repetition: A Neglected Factor in the Analysis of Electricity Auctions," The Electricity Journal, Elsevier, vol. 12(3), pages 60-70, April.
    102. Robalino, David & Lempert, Robert, 2000. "Carrots and sticks for new technology: Abating greenhouse gas emissions in a heterogeneous and uncertain world," MPRA Paper 12002, University Library of Munich, Germany.
    103. Putnam, Robert D., 1988. "Diplomacy and domestic politics: the logic of two-level games," International Organization, Cambridge University Press, vol. 42(3), pages 427-460, July.
    104. Voudouris, Vlasios & Stasinopoulos, Dimitrios & Rigby, Robert & Di Maio, Carlo, 2011. "The ACEGES laboratory for energy policy: Exploring the production of crude oil," Energy Policy, Elsevier, vol. 39(9), pages 5480-5489, September.
    105. Courtois, Pierre & Tazdaït, Tarik, 2007. "Games of influence in climate change negotiations: Modelling interactions," Ecological Modelling, Elsevier, vol. 204(3), pages 301-314.
    106. Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2012. "Temperature Shocks and Economic Growth: Evidence from the Last Half Century," American Economic Journal: Macroeconomics, American Economic Association, vol. 4(3), pages 66-95, July.
    107. Stéphane Hallegatte, 2008. "An Adaptive Regional Input‐Output Model and its Application to the Assessment of the Economic Cost of Katrina," Risk Analysis, John Wiley & Sons, vol. 28(3), pages 779-799, June.
    108. Fawcett, Tina, 2010. "Personal carbon trading: A policy ahead of its time?," Energy Policy, Elsevier, vol. 38(11), pages 6868-6876, November.
    109. Markard, Jochen & Raven, Rob & Truffer, Bernhard, 2012. "Sustainability transitions: An emerging field of research and its prospects," Research Policy, Elsevier, vol. 41(6), pages 955-967.
    110. Popp, David & Hascic, Ivan & Medhi, Neelakshi, 2011. "Technology and the diffusion of renewable energy," Energy Economics, Elsevier, vol. 33(4), pages 648-662, July.
    111. Lee, Timothy & Yao, Runming & Coker, Phil, 2014. "An analysis of UK policies for domestic energy reduction using an agent based tool," Energy Policy, Elsevier, vol. 66(C), pages 267-279.
    112. Faber, Albert & Valente, Marco & Janssen, Peter, 2010. "Exploring domestic micro-cogeneration in the Netherlands: An agent-based demand model for technology diffusion," Energy Policy, Elsevier, vol. 38(6), pages 2763-2775, June.
    113. Nicholas Stern, 2013. "The Structure of Economic Modeling of the Potential Impacts of Climate Change: Grafting Gross Underestimation of Risk onto Already Narrow Science Models," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 838-859, September.
    114. Maya Sopha, Bertha & Klöckner, Christian A. & Hertwich, Edgar G., 2011. "Exploring policy options for a transition to sustainable heating system diffusion using an agent-based simulation," Energy Policy, Elsevier, vol. 39(5), pages 2722-2729, May.
    115. Michael D. Mastrandrea & Stephen H. Schneider, 2001. "Integrated assessment of abrupt climatic changes," Climate Policy, Taylor & Francis Journals, vol. 1(4), pages 433-449, December.
    116. Tesfatsion, Leigh & Jie, Yu & Rehmann, Chris R. & Gutowski, William J., 2015. "WACCShed: A Platform for the Study of Watersheds as Dynamic Coupled Natural and Human Systems," ISU General Staff Papers 201512160800001226, Iowa State University, Department of Economics.
    117. Stéphane Hallegatte, 2008. "An adaptive regional input-output model and its application to the assessment of the economic cost of Katrina," Post-Print hal-00716550, HAL.
    118. repec:hal:spmain:info:hdl:2441/4hs7liq1f49gh9chdf7r17gam6 is not listed on IDEAS
    119. René Kemp, 2010. "Eco-innovation: Definition, Measurement and Open Research Issues," Economia politica, Società editrice il Mulino, issue 3, pages 397-420.
    120. Andreas Pyka & Uwe Cantner & Alfred Greiner & Thomas Kuhn (ed.), 2009. "Recent Advances in Neo-Schumpeterian Economics," Books, Edward Elgar Publishing, number 12982.
    121. William Nordhaus, 2015. "Climate Clubs: Overcoming Free-Riding in International Climate Policy," American Economic Review, American Economic Association, vol. 105(4), pages 1339-1370, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:spo:wpmain:info:hdl:2441/1nlv566svi86iqtetenms15tc4 is not listed on IDEAS
    2. repec:hal:spmain:info:hdl:2441/1nlv566svi86iqtetenms15tc4 is not listed on IDEAS
    3. repec:spo:wpmain:info:hdl:2441/5qr7f0k4sk8rbq4do5u6v70rm0 is not listed on IDEAS
    4. repec:hal:spmain:info:hdl:2441/5qr7f0k4sk8rbq4do5u6v70rm0 is not listed on IDEAS
    5. Auke Hoekstra & Maarten Steinbuch & Geert Verbong, 2017. "Creating Agent-Based Energy Transition Management Models That Can Uncover Profitable Pathways to Climate Change Mitigation," Complexity, Hindawi, vol. 2017, pages 1-23, December.
    6. Lamperti, F. & Dosi, G. & Napoletano, M. & Roventini, A. & Sapio, A., 2018. "Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model," Ecological Economics, Elsevier, vol. 150(C), pages 315-339.
    7. Ciarli, Tommaso & Savona, Maria, 2019. "Modelling the Evolution of Economic Structure and Climate Change: A Review," Ecological Economics, Elsevier, vol. 158(C), pages 51-64.
    8. Naqvi, Asjad & Stockhammer, Engelbert, 2018. "Directed Technological Change in a Post-Keynesian Ecological Macromodel," Ecological Economics, Elsevier, vol. 154(C), pages 168-188.
    9. Lamperti, F. & Dosi, G. & Napoletano, M. & Roventini, A. & Sapio, A., 2020. "Climate change and green transitions in an agent-based integrated assessment model," Technological Forecasting and Social Change, Elsevier, vol. 153(C).
    10. Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2018. "And then he wasn't a she : Climate change and green transitions in an agent-based integrated assessment model," Working Papers hal-03443464, HAL.
    11. Lamperti, Francesco & Roventini, Andrea & Sani, Amir, 2018. "Agent-based model calibration using machine learning surrogates," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 366-389.
    12. Giorgio Fagiolo & Mattia Guerini & Francesco Lamperti & Alessio Moneta & Andrea Roventini, 2017. "Validation of Agent-Based Models in Economics and Finance," LEM Papers Series 2017/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    13. Dosi, Giovanni & Roventini, Andrea & Russo, Emanuele, 2019. "Endogenous growth and global divergence in a multi-country agent-based model," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 101-129.
    14. Lamperti, Francesco & Bosetti, Valentina & Roventini, Andrea & Tavoni, Massimo & Treibich, Tania, 2021. "Three green financial policies to address climate risks," Journal of Financial Stability, Elsevier, vol. 54(C).
    15. Otto, Christian & Willner, Sven Norman & Wenz, Leonie & Frieler, Katja & Levermann, Anders, 2017. "Modeling loss-propagation in the global supply network: The dynamic agent-based model acclimate," OSF Preprints 7yyhd, Center for Open Science.
    16. repec:spo:wpmain:info:hdl:2441/46k9rkvut99i7qnn4vqm25t53b is not listed on IDEAS
    17. repec:hal:spmain:info:hdl:2441/20hflp7eqn97boh50no50tv67n is not listed on IDEAS
    18. Otto, C. & Willner, S.N. & Wenz, L. & Frieler, K. & Levermann, A., 2017. "Modeling loss-propagation in the global supply network: The dynamic agent-based model acclimate," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 232-269.
    19. repec:spo:wpmain:info:hdl:2441/20hflp7eqn97boh50no50tv67n is not listed on IDEAS
    20. repec:hal:spmain:info:hdl:2441/46k9rkvut99i7qnn4vqm25t53b is not listed on IDEAS
    21. Matteo Coronese & Davide Luzzati, 2022. "Economic impacts of natural hazards and complexity science: a critical review," LEM Papers Series 2022/13, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    22. Coronese, Matteo & Occelli, Martina & Lamperti, Francesco & Roventini, Andrea, 2023. "AgriLOVE: Agriculture, land-use and technical change in an evolutionary, agent-based model," Ecological Economics, Elsevier, vol. 208(C).
    23. Giorgio Fagiolo & Andrea Roventini, 2017. "Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 20(1), pages 1-1.
    24. repec:hal:spmain:info:hdl:2441/dcditnq6282sbu1u151qe5p7f is not listed on IDEAS
    25. repec:spo:wpmain:info:hdl:2441/dcditnq6282sbu1u151qe5p7f is not listed on IDEAS
    26. J. Farmer & Cameron Hepburn & Penny Mealy & Alexander Teytelboym, 2015. "A Third Wave in the Economics of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 329-357, October.
    27. Francesco Lamperti & Andrea Roventini, 2022. "Beyond climate economics orthodoxy: impacts and policies in the agent-based integrated-assessment DSK model," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 19(3), pages 357-380, December.
    28. Hötte, Kerstin, 2020. "How to accelerate green technology diffusion? Directed technological change in the presence of coevolving absorptive capacity," Energy Economics, Elsevier, vol. 85(C).
    29. Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Joseph E. Stiglitz & Tania Treibich, 2020. "Rational Heuristics? Expectations And Behaviors In Evolving Economies With Heterogeneous Interacting Agents," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1487-1516, July.
    30. Mauro Napoletano, 2018. "A Short Walk on the Wild Side: Agent-Based Models and their Implications for Macroeconomic Analysis," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 257-281.

    More about this item

    Keywords

    Climate change; Climate policy; Climate economics; Complex systems; Agent-based models; Socio-economic networks;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:138:y:2017:i:c:p:252-265. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolecon .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.