If using material from this website, the user should refer to Cai, Y., Judd, K.L., Lontzek, T.S. (2012),
“Open Science is Necessary”, Nature Climate Change. Questions and comments should be sent to email@example.com
This website provides supplementary material for Cai, Y., Judd, K.L., Lontzek, T.S. (2012), “Open Science is Necessary”, Nature Climate Change. We show that the well known and widely used DICE2007 model with a ten-year time step produces carbon tax results that are about 50% higher than the more reliable solutions using one-year, half-year, and quarter-year time steps using the Euler explicit finite difference scheme.
This finding is illustrated in the following figure.
Furthermore, on this webpage you will find:
- A general discussion on the finite difference scheme in the DICE2007.
- The relevant equations of the basic DICE2007 Model and modifications of DICE-CJL.
- GAMS codes to run DICE2007 and DICE-CJL discussed on this webpage.