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A Stochastic Control/Game Approach to the Optimal Timing of Climate Policies

In: Uncertainty and Environmental Decision Making

Author

Listed:
  • O. Bahn

    (GERAD and MQG, HEC Montréal)

  • A. Haurie

    (GERAD-HEC, Montréal and ORDECSYS)

  • R. Malhamé

    (GERAD and Ecole Polytechnique)

Abstract

This chapter deals with an application of stochastic control or stochastic game methods to the design of optimal timing of climate policies. In the first part, we propose a stochastic control approach for a cost-benefit model that takes into account the uncertainty on the access to a backstop (clean) technology. In a second part, we show how this model can be extended to a game theoretic framework, assuming non-cooperative behavior of two groups of countries that are affected by climate change related damages induced by their joint greenhouse gas emissions. Finally we discuss the possibility of implementing successive control synthesis cycles preceded by learning cycles concerning climate sensitivity statistics.

Suggested Citation

  • O. Bahn & A. Haurie & R. Malhamé, 2009. "A Stochastic Control/Game Approach to the Optimal Timing of Climate Policies," International Series in Operations Research & Management Science, in: Jerzy A. Filar & Alain Haurie (ed.), Uncertainty and Environmental Decision Making, chapter 0, pages 211-237, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-1129-2_7
    DOI: 10.1007/978-1-4419-1129-2_7
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    Cited by:

    1. Matthias Pilz & Luluwah Al-Fagih, 2020. "A Dynamic Game Approach for Demand-Side Management: Scheduling Energy Storage with Forecasting Errors," Dynamic Games and Applications, Springer, vol. 10(4), pages 897-929, December.
    2. Biying Yu & Zihao Zhao & Yi-Ming Wei & Lan-Cui Liu & Qingyu Zhao & Shuo Xu & Jia-Ning Kang & Hua Liao, 2023. "Approaching national climate targets in China considering the challenge of regional inequality," Nature Communications, Nature, vol. 14(1), pages 1-12, December.

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