 Research on a dynamics with bounded rationality for high-carbon and low-carbon energy economic systemZhanwen Ding, Shuxun Wang and Shumin Jiang Economic Modelling, 2013, vol. 33, issue C, 375-380 Abstract: For the energy economic system, a dynamics with bounded rationality is built to describe a decision-making problem that decision-makers select high-carbon energy input and low-carbon energy investment to maximize the weighted utility of consumption and environmental quality in two adjacent periods. The technical level of low-carbon energy development, the weight coefficient, the rate of high-carbon energy pollution on the environment and the environmental quality self-repair coefficient are the major parameters in the model. Stability analysis and numerical simulation are mathematically done for this dynamics. The mathematical analysis shows that decision-makers' focusing on the long-term profits, improving the technology level of low-carbon energy development and reducing pollution rate of high-carbon energy are helpful for the sustainable development of the energy economic system. Keywords: Energy economic system; High-carbon and low-carbon energy; Environmental quality; Economic growth; Bounded rationality (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:33:y:2013:i:c:p:375-380 DOI: 10.1016/j.econmod.2013.04.029 Access Statistics for this article Economic Modelling is currently edited by S. Hall and P. Pauly More articles in Economic Modelling from Elsevier |
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