DICE simplified

Authors	M. Ikefuji R.J.A. Laeven J.R. Magnus C. Muris
Publication date	02-2021
Journal	Environmental Modeling & Assessment
Volume | Issue number	26
Pages (from-to)	1-12
Organisations	Faculty of Economics and Business (FEB) - Amsterdam School of Economics Research Institute (ASE-RI) Faculty of Economics and Business (FEB)
Abstract	We analyze Nordhaus’ DICE model and show that the temperature and CO2 equations are needlessly complicated and can be simplified without loss of essence. In addition, we argue that the damage function can be altered in such a way that it lends itself to experiments involving extreme risk. We conclude that, within the philosophy of the DICE model, significant simplifications can be made which make the model more transparent, more robust, and easier to apply.
Document type	Article
Language	English
Published at	https://doi.org/10.1007/s10666-020-09738-2
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