Modelling the Energy Transition: Towards an Application of Agent Based Modelling to Integrated Assessment Modelling

To attain a better understanding of the energy transition we have applied Agent Based Modelling (ABM) to Integrated Assessment Modelling (IAM) in an abstract model with which we developed a proof of concept model of society’s response to a changing climate and energy system. Although there is no doubt that large scale neoclassical IAMs have provided key insights for business decisions and policy makers, we argue that there is a need for an approach that focuses on the role of heterogeneous agents.

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