A Stochastic Control Approach to Optimal Climate Policies

Alain Haurie ()
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Alain Haurie: University of Geneva

Chapter Chapter 9 in Stochastic Processes, Optimization, and Control Theory: Applications in Financial Engineering, Queueing Networks, and Manufacturing Systems, 2006, pp 159-173 from Springer

Abstract: Abstract The purpose of this paper is to show how a discrete event stochastic control paradigm similar to the one proposed by Suresh Sethi in the realm of finance, economic planning or manufacturing systems can be used to analyze the important issue of optimal timing in global climate change policies. One proposes a stochastic economic growth model to study the optimal schedule of greenhouse gases (GHG) emissions abatement in an economy that can invest in RD&D, in an existing or a future backstop technology and faces uncertainty in both climate and technical progress dynamics.

Keywords: Climate Policy; Climate Sensitivity; Cumulative Emission; Jump Time; Emission Abatement (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-0-387-33815-6_9

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DOI: 10.1007/0-387-33815-2_9

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