Mathematical model description - GCAM: Difference between revisions
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Note: The documentation of GCAM is 'under review' and is not yet 'published'!
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The GCAM documentation has a description of the key equations for each system, liked below. | |||
* [http://jgcri.github.io/gcam-doc/choice.html Logit Choice Function] | |||
* [http://jgcri.github.io/gcam-doc/economy.html#equations Economy Equations] | |||
* [http://jgcri.github.io/gcam-doc/demand_energy.html#equations Energy Demand Equations] | |||
* [http://jgcri.github.io/gcam-doc/supply_energy.html#equations Energy Supply Equations] | |||
* [http://jgcri.github.io/gcam-doc/land.html#equations Land Equations] | |||
* [http://jgcri.github.io/gcam-doc/supply_land.html#equations Land Supply Equations] | |||
* [http://jgcri.github.io/gcam-doc/demand_land.html#equations Land Demand Equations] | |||
* [http://jgcri.github.io/gcam-doc/demand_water.html#equations Water Demand Equations] | |||
* [http://jgcri.github.io/gcam-doc/emissions.html#equations Non-CO<sub>2</sub> Emissions Equations] | |||
Latest revision as of 15:06, 21 June 2022
Note: The documentation of GCAM is 'under review' and is not yet 'published'!| Corresponding documentation | |
|---|---|
| Previous versions | |
| No previous version available | |
| Model information | |
| Model link | |
| Institution | Pacific Northwest National Laboratory, Joint Global Change Research Institute (PNNL, JGCRI), USA, https://www.pnnl.gov/projects/jgcri. |
| Solution concept | General equilibrium (closed economy)GCAM solves all energy, water, and land markets simultaneously |
| Solution method | Recursive dynamic solution method |
| Anticipation | GCAM is a dynamic recursive model, meaning that decision-makers do not know the future when making a decision today. After it solves each period, the model then uses the resulting state of the world, including the consequences of decisions made in that period - such as resource depletion, capital stock retirements and installations, and changes to the landscape - and then moves to the next time step and performs the same exercise. For long-lived investments, decision-makers may account for future profit streams, but those estimates would be based on current prices. For some parts of the model, economic agents use prior experience to form expectations based on multi-period experiences. |
The GCAM documentation has a description of the key equations for each system, liked below.