Modelling complex systems of heterogeneous agents to better design sustainability transitions policy

@inproceedings{Mercure2016ModellingCS,
  title={Modelling complex systems of heterogeneous agents to better design sustainability transitions policy},
  author={Jean-Francois Mercure and Hector Pollitt and Andrea M Bassi and Jorge E. Vi{\~n}uales and Neil R. Edwards},
  year={2016}
}
This article proposes a fundamental methodological shift in the modelling of policy interventions for sustainability transitions in order to account for complexity (e.g. self-reinforcing mechanisms, such as technology lock-ins, arising from multi-agent interactions) and agent heterogeneity (e.g. differences in consumer and investment behaviour arising from income stratification). We first characterise the uncertainty faced by climate policy-makers and its implications for investment decision… CONTINUE READING
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