At 16:00 on January 4, 2019, Prof. Zi-Li Yang, from the State University of New York at Binghamton, was invited to visit CEEP and gave an academic report entitled " Nobel Prize Winning DICE/RICE --- Their Structure and Applications ". This report was hosted by A.Prof. Biying Yu, and a number of teachers and students attended the report.
Professor Zi-Li Yang is a professor of economics at the State University of New York Binghamton, adjunct professor at the Beijing institute of technology. He received his doctor of economics at Yale university. He focuses on resource and environmental economics, energy economics, economic modeling, applied game theories, public economics, Chinese economy and so on. In collaboration with William d. Nordhaus, a professor at Yale university who won the Nobel Prize in Economic sciences in 2018, professor Yang establishes the most influential climate change integrated assessment model (RICE model) in the world and his papers are published in American Economic Review and other important journals. The RICE model and its derivatives have been widely used in past reports of the intergovernmental panel on climate change (IPCC). Professor Yang independently develops a research method that combines the concepts and algorithms of game theory numerical solutions with the comprehensive assessment model of climate economy, which occupies an international leading position in this pioneering field. He is the first scholar to introduce non-cooperative game solution and cooperative game solution into large-scale integrated assessment model. He is also the most important modeler of the EPPA model in the energy lab at MIT in the 1990s.
In today's report, Professor Zi-Li Yang started from the Nobel Prize in Economics in 2018. He introduced William D. Nordhaus, a professor of economics at Yale University, who was awarded the Nobel Prize in Economic Science due to making an outstanding contribution on "integrate climate change into a long-term macro economy." Professor Nordhaus and his collaborators have developed the DICE (Dynamic Integrated Climate-Economy) and RICE (Regional Integrated Climate-Economy) to calculate the cost and benefit of the emission reduction measures and the determination of the optimal emission reduction plan. Then, as one of the main collaborators, Professor Yang mainly introduced the content and assumptions of the integrated assessment model DICE, RICE, and the relationship and difference between the two models, environmental externalities in the model, the application of Nash equilibrium theory and game theory in the model, model development and application research. He further explored how to apply the RICE model to China Climate Change IAM. After the report, Professor Yang took the group photos with teachers and students at CEEP.
