This is a replication of William Nordhaus’ original DICE model, as described in Managing the Global Commons and a 1992 Science article and Cowles Foundation working paper that preceded it.
There are many good things about this model, but also some bad. If you are thinking of using it as a platform for expansion, read my dissertation first.
I provide several versions:
- Model with simple heuristics replacing the time-vector decisions in the original; runs in Vensim PLE
- Full model, with decisions implemented as vectors of points over time; requires Vensim Pro or DSS
- Same as #2, but with VECTOR LOOKUP replaced with VECTOR ELM MAP; supports earlier versions of Pro or DSS
- DICE-vec-6-elm.mdl (you’ll also want a copy of DICE-vec-6.vpm above, so that you can extract the supporting optimization control files)
Note that there may be minor variances from the published versions, e.g. that transversality coefficients for the state variables (i.e. terminal values of the states for optimization) are not included. The optimizations use fewer time decision points than the original GAMS equivalents. These do not have any significant effect on the outcome.