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DICEEconomicModel.m
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DICEEconomicModel.m
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function [ExpectedWelfare,scenario] = DICEEconomicModel(p,SavingsRate,miu,damagemodfactor,incrementalemissions,incrementalconsumption,incrementalcapital,incrementalforcing,incrementalmiu)
%[ExpectedWelfare,scenario] = DICEEconomicModel(p,SavingsRate,miu,[damagemodfactor],[incrementalemissions],[incrementalconsumption],[incrementalcapital],[incrementalforcing],[incrementalmiu])
%
%
%
% Last updated by Robert Kopp, robert-dot-kopp-at-rutgers-dot-edu, Fri Sep 04 00:17:27 EDT 2015
Nscenarios = length(p.T2xCO2);
t=p.t;
lam = p.lam(:);
Population = repmat(p.L,Nscenarios,1);
Nt = length(t);
SavingsRate=SavingsRate(:)';
if size(miu,1)==1
miu=repmat(miu(:)',Nscenarios,1);
end
defval('damagemodfactor',1);
defval('incrementalemissions',zeros(size(t)));
defval('incrementalconsumption',zeros(size(t)));
defval('incrementalcapital',zeros(size(t)));
defval('incrementalforcing',zeros(size(t)));
defval('incrementalmiu',zeros(size(t)));
if p.doROI
ROI_Population = bsxfun(@times,Population,p.ROI_fpop);
else
ROI_Population = Population;
end
elasmu = p.elasmu;
mincons=p.mincons;
if elasmu == 1
calcutility = @(ConsumptionPC) real ( log(max(mincons/1000,ConsumptionPC)) );
elasmu = 1.0001;
else
calcutility = @(ConsumptionPC) real ( ((max(mincons/1000,ConsumptionPC)).^(1-elasmu))./(1-elasmu) );
end
b = p.b^((t(2)-t(1))/10);
c1 = p.c1(:);
c3 = p.c3;
c4 = p.c4;
gama = p.gama;
expcost2 = p.expcost2;
FCO22x = p.FCO22x;
matPI = p.mateq;
plantlife=p.plantlife;
earlyretcost = p.earlyretcost;
rr=p.rr;
dk=p.dk;
cost1 = p.cost1;
popfeedback=p.popfeedback;
allowrecoveryfromcrash = p.allowrecoveryfromcrash;
limmiu = p.limmiu;
Tstoch = p.Tstoch;
if Tstoch>0
Tstoch_seeds = p.Tstoch_seeds;
end
doROI = p.doROI;
if doROI
ROI_fcons = p.ROI_fcons;
ROI_fmiu = p.ROI_fmiu;
ROI_femit = p.ROI_femit;
ROI_fliability = p.ROI_fliability;
ROI_damfactor = p.ROI_damfactor;
liabilitydamagesref = p.liabilitydamagesref;
ROI_limmiu = p.ROI_limmiu;
ROI_anchor = p.ROI_anchor;
ROI_Tstoch = p.ROI_Tstoch;
if ROI_Tstoch>0
ROI_Tstoch_seeds = p.ROI_Tstoch_seeds;
end
end
ecoshare = p.ecoshare;
partfract = p.partfract;
minoutpc = p.minoutpc;
fosslim = p.fosslim;
al = p.al;
etree = p.etree;
consttcre = p.consttcre;
sigma=p.sigma;
dam_futility = p.dam_futility;
dam_fcapital = p.dam_fcapital;
abate_futility = p.abate_futility;
forcoth=p.forcoth;
forcothmiufactor=p.forcothmiufactor;
forcothlimmiu=p.forcothlimmiu;
liabilitycap = p.liabilitycap;
liabilityfloor = p.liabilityfloor;
miu = bsxfun(@plus,miu,incrementalmiu);
overrideCO2=p.overrideCO2;
overrideForcing=p.overrideForcing;
overrideCarbon=p.overrideCarbon;
dooverrideCarbon=(length(overrideCarbon)>0);
dooverrideCO2=(length(overrideCO2)>0);
dooverrideForcing=(length(overrideForcing)>0);
calcnextmassdist = @(mass0,emissions) mass0 * b + [emissions zeros(Nscenarios,2)];
if p.use_new_climate
dt = t(2)-t(1);
sbconst = p.sbconst;
Cp_mixed = p.Cp_mixed;
z_mixed = p.z_mixed;
z_deep = p.z_deep;
ocean_diffusivity = p.ocean_diffusivity;
FCO22x = p.FCO22x;
Ndeepboxes = p.Ndeepboxes;
calcnexttemperature = @(Atm,Ocean,Forcing) DCM(Forcing,Atm,Ocean,FCO22x./lam,ocean_diffusivity,sbconst,Cp_mixed,z_mixed,z_deep,Ndeepboxes,dt);
else
Ndeepboxes = 1;
if consttcre == 0
calcnexttemperature = @(Atm,Ocean,Forcing) [Atm+c1.*(Forcing-lam.*Atm-c3.*(Atm-Ocean)) Ocean+c4.*(Atm-Ocean)];
else
calcnexttemperature = @(Atm,Ocean,Emissions) [Atm+consttcre.*Emissions Ocean+c4*(Atm-Ocean)];
end
end
calcoutput_gross = @(TFP,Kapital,Labor) TFP .* (Labor/1000).^(1-gama) .* Kapital.^(gama);
calcabatecost = @(PartFraction,CostFactor,Mitigation) (PartFraction.^(1-expcost2))*(bsxfun(@times,CostFactor,Mitigation.^expcost2));
calcco2forcing = @(AtmCO2) FCO22x*log2((AtmCO2+1e-9)/matPI);
calcearlyretcost = @(DeltaMitigation,sigma,dt) (abs(DeltaMitigation)>dt./plantlife).*0.5*(max(DeltaMitigation-dt./plantlife).^2).*plantlife.*sigma.*earlyretcost;
if isprop(p,'calcdamagesstr')
eval(['calcdamages = ' p.calcdamagesstr ';']);
else
calcdamages = p.calcdamages;
end
Tatm(:,1) = ones(Nscenarios,1)*p.Tatm0;
preTatm = Tatm(:,1) - (t(2)-t(1))*p.Trate0;
if length(p.Tocean0)==1
Tocean = repmat(reshape(p.Tocean0,1,1,[]),[Nscenarios,1,Ndeepboxes]);
else
Tocean = repmat(reshape(p.Tocean0,1,1,[]),[Nscenarios,1,1]);
end
MassDist(1,1:3,1:Nscenarios) = repmat([p.mat0 p.mu0 p.ml0],[1 1 Nscenarios]);
ForcingNonCO2(:,1) = repmat(forcoth(1),Nscenarios,1)+incrementalforcing(:,1);
Forcing(:,1) = squeeze(calcco2forcing(MassDist(1,1,:)))+ForcingNonCO2(:,1);
CumulativeEmissions(:,1) = zeros(Nscenarios,1);
dTatm(:,1) = ones(Nscenarios,1)*p.Trate0;
Capital(:,1) = ones(Nscenarios,1)*p.k0;
CapitalClimateDamages(:,1) = zeros(size(Capital(:,1)));
Capital(:,1) = Capital(:,1) + incrementalcapital(1);
EarlyRetirementCost(:,1) = zeros(Nscenarios,1);
NotCrashed(:,1) = ones(Nscenarios,1);
if dooverrideForcing
Forcing(:,1)=ones(size(Forcing))*overrideForcing(1);
end
if dooverrideCO2
MassDist(1,1,1:Nscenarios) = repmat(overrideCO2(1),[1 1 Nscenarios]);
end
for i=1:length(t)
if i>1
if Nscenarios > 1
MassDist(i,1:3,1:Nscenarios) = reshape(calcnextmassdist(squeeze(MassDist(i-1,:,:))',CEmissionsPerPeriod(:,i-1))',1,3,Nscenarios);
MassDist(i,:,:) = MassDist(i,:,:).*(MassDist(i,:,:)>0);
else
MassDist(i,1:3,1) = calcnextmassdist(MassDist(i-1,:),CEmissionsPerPeriod(i-1));
MassDist(i,1:3,1) = MassDist(i,:).*(MassDist(i,:)>0);
end
if dooverrideCO2
MassDist(i,1,:) = overrideCO2(i);
end
forcothmiu(:,i) = miu(:,i-1)*forcothmiufactor;
forcothmiu(:,i) = (forcothmiu(:,i)<=forcothlimmiu).*forcothmiu(:,i) + forcothlimmiu.*(forcothmiu(:,i)>forcothlimmiu);
ForcingNonCO2(:,i)=real((forcoth(i)*(1-forcothmiu(:,i)))+incrementalforcing(:,i));
Forcing(:,i) = real(calcco2forcing(squeeze(MassDist(i,1,:)))+ForcingNonCO2(:,i));
if dooverrideForcing
Forcing(:,i)=overrideForcing(i);
end
if consttcre == 0
temps = real(calcnexttemperature(Tatm(:,i-1),Tocean(:,i-1,:),.5*(Forcing(:,i)+Forcing(:,i-1))));
CumulativeEmissions(:,i) = CumulativeEmissions(:,i-1) + CEmissionsPerPeriod(:,i-1);
else
temps = real(calcnexttemperature(Tatm(:,i-1),Tocean(:,i-1,:),CEmissionsPerPeriod(:,i-1)));
CumulativeEmissions(:,i) = CumulativeEmissions(:,i-1) + CEmissionsPerPeriod(:,i-1);
end
% hard upper limit to carbon
CumulativeFossilEmissions=sum(FossilEmissions,2)*12/44*(t(2)-t(1));
miu(:,i) = miu(:,i) .* (CumulativeFossilEmissions<fosslim) + (CumulativeFossilEmissions>=fosslim);
EarlyRetirementCost(:,i) = calcearlyretcost((miu(:,i)-miu(:,i-1))/partfract(i),sigma(i),t(2)-t(1));
Tatm(:,i) = temps(:,1); Tocean(:,i,:) = permute(temps(:,2:end),[1 3 2]);
if Tstoch>0
Tatm(:,i) = Tatm(:,i) + Tstoch_seeds(:,i);
end
dTatm(:,i) = (Tatm(:,i)-Tatm(:,i-1))/(t(i)-t(i-1));
Capital(:,i) = Capital(:,i-1)*(1-dk).^(t(i)-t(i-1)) + Investment(:,i-1)*(t(i)-t(i-1));
CapitalClimateDamages(:,i) = 1 - (1 - damagemodfactor*calcdamages(abs(Tatm(:,i)),t(i),dTatm(:,i),Output_Gross(:,i-1),[preTatm Tatm],Population(i))).^(dam_fcapital./gama);
Capital(:,i) = Capital(:,i) .* (1 - CapitalClimateDamages(:,i));
Capital(:,i) = Capital(:,i) + incrementalcapital(i);
end
Output_Gross(:,i) = calcoutput_gross(al(:,i),Capital(:,i),Population(:,i));
FossilEmissions_Gross(:,i) = sigma(i).*Output_Gross(:,i);
FossilEmissions(:,i) = FossilEmissions_Gross(:,i).*(1-miu(:,i));
LandEmissions_Gross(:,i) = repmat(etree(i),Nscenarios,1);
LandEmissions(:,i) = LandEmissions_Gross(:,i) .*(1-miu(:,i));
Emissions(:,i) = FossilEmissions(:,i) + LandEmissions(:,i) + incrementalemissions(i);
if dooverrideCarbon
Emissions(:,i)=ones(size(Emissions(:,i)))*overrideCarbon(i);
end
CEmissionsPerPeriod(:,i) = Emissions(:,i)*(t(2)-t(1))*12/44;
ClimateDamages(:,i) = 1 - (1 - damagemodfactor*calcdamages(abs(Tatm(:,i)),t(i),dTatm(:,i),Output_Gross(:,i),[preTatm Tatm],Population(i))).^(1-dam_fcapital-dam_futility);
AbatementCost(:,i) = calcabatecost(partfract(i),cost1(i),miu(:,i)) + EarlyRetirementCost(:,i);
AbatementCostOutput(:,i) = 1 - (1 - AbatementCost(:,i)).^(1-abate_futility);
AbatementCostUtility(:,i) = 1 - (1 - AbatementCost(:,i)).^(abate_futility);
Output(:,i) = Output_Gross(:,i) .* (1-ClimateDamages(:,i)-AbatementCostOutput(:,i));
minOutput = minoutpc*1e-6*Population(:,i);
if popfeedback
Population(:,i) = Population(:,i).*(Output(:,i)>minOutput) + (Output(:,i)/(minoutpc*1e-6)).*(Output(:,i)<=minOutput);
else
if (i>1) && (~allowrecoveryfromcrash)
Output(:,i)=Output(:,i).*NotCrashed(:,i-1);
end
Output(:,i) = Output(:,i).*(Output(:,i)>minOutput) + minOutput.*(Output(:,i)<=minOutput); % ensure output doesn't fall below $730/person
end
NotCrashed(:,i) = Output(:,i)>minOutput;
Investment(:,i) = Output(:,i) * SavingsRate(i);
EcoClimateDamages(:,i) = 1 - (1 - damagemodfactor*calcdamages(abs(Tatm(:,i)),t(i),dTatm(:,i),Output_Gross(:,i),[preTatm Tatm],Population(i))).^(1-dam_futility);
EffectiveConsumptionDamages(:,i) = 1 - (1 - damagemodfactor*calcdamages(abs(Tatm(:,i)),t(i),dTatm(:,i),Output_Gross(:,i),[preTatm Tatm],Population(i))).^(dam_futility);
end
Consumption = Output.*repmat((1-SavingsRate),Nscenarios,1);
if size(incrementalconsumption,1)==1
Consumption = Consumption + repmat(incrementalconsumption/(t(2)-t(1)),Nscenarios,1);
else
Consumption = Consumption + incrementalconsumption;
end
ConsumptionPerCapita = 1000*Consumption./Population;
EcoConsumptionPerCapita = repmat(ConsumptionPerCapita(:,1),1,size(EcoClimateDamages,2)).*(1-EcoClimateDamages);
if doROI
ROI_minOutput = minoutpc*1e-6*ROI_Population;
ROI_Abatement = max(0,bsxfun(@plus,min(ROI_limmiu,bsxfun(@plus,ROI_anchor(2,:),bsxfun(@times,bsxfun(@minus,miu,bsxfun(@plus,ROI_anchor(1,:),incrementalmiu)),ROI_fmiu./ROI_femit))),bsxfun(@rdivide,incrementalmiu,ROI_femit)));
% ROI_AbatementCost = bsxfun(@times,AbatementCost,(bsxfun(@times,ROI_Abatement,ROI_femit./ROI_fcons)./(miu+eps)));
% ROI_AbatementCost = bsxfun(@times,AbatementCost,ROI_fmiu./ROI_fcons);
ROI_AbatementCost = calcabatecost(1,cost1,ROI_Abatement) ;
ROI_AbatementCostOutput = 1 - (1 - ROI_AbatementCost).^(1-abate_futility);
ROI_AbatementCostUtility = 1 - (1 - ROI_AbatementCost).^(abate_futility);
ROI_Emissions_Gross = bsxfun(@times,FossilEmissions_Gross+LandEmissions_Gross,ROI_femit);
ROI_Emissions = bsxfun(@plus,bsxfun(@times,ROI_Emissions_Gross,1-ROI_Abatement),incrementalemissions);
%ROI_OutputGross = bsxfun(@times,Output+Output_Gross.*AbatementCost,ROI_fcons);
ROI_OutputGross = bsxfun(@times,Output_Gross,ROI_fcons);
if ROI_Tstoch == 0
ROI_Tatm = Tatm;
ROI_dTatm = dTatm;
ROI_ClimateDamages = ClimateDamages * ROI_damfactor;
else
ROI_Tatm = Tatm + ROI_Tstoch_seeds;
ROI_dTatm = [dTatm(:,1) diff(ROI_Tatm,[],2)];
for i=1:length(t)
ROI_ClimateDamages(:,i) = 1 - (1 - damagemodfactor*calcdamages(abs(ROI_Tatm(:,i)),t(i),ROI_dTatm(:,i),Output_Gross(:,i),[preTatm ROI_Tatm(:,1:i)],Population(i))).^(1-dam_fcapital-dam_futility);
end
ROI_ClimateDamages = ROI_damfactor * ROI_ClimateDamages;
end
ROI_Output = max(ROI_OutputGross.*(1-ROI_AbatementCostOutput-ROI_ClimateDamages),ROI_minOutput);
ROI_Liability = max(liabilityfloor,bsxfun(@times,ROI_fliability,bsxfun(@times,Output_Gross,1-ROI_fcons).*(1-(1-ClimateDamages).*(1-CapitalClimateDamages).*(1-EffectiveConsumptionDamages))));
%ROI_Liability = -bsxfun(@times,ROI_fliability,bsxfun(@times,Output,1-ROI_fcons));
%ROI_Liability = min(ROI_Liability,liabilitycap*ROI_OutputGross);
%ROI_Liability = max(ROI_Liability,-liabilitycap*ROI_OutputGross);
ROI_Consumption = (ROI_Output) .* repmat((1-SavingsRate),Nscenarios,1);
if size(incrementalconsumption,1)==1
ROI_Consumption = ROI_Consumption + repmat(incrementalconsumption/(t(2)-t(1)),Nscenarios,1);
else
ROI_Consumption = ROI_Consumption + incrementalconsumption;
end
ROI_ConsumptionPerCapita = 1000*(ROI_Consumption)./ROI_Population;
ROI_EcoConsumptionPerCapita = repmat(ROI_ConsumptionPerCapita(:,1),1,size(EcoClimateDamages,2)).*(1-EcoClimateDamages);
ROI_LiabilityUtilityPerCapita = -real( max(mincons/1000,ROI_ConsumptionPerCapita).^(-elasmu) .* ( 1000 * ROI_Liability ./ ROI_Population .* repmat((1-SavingsRate),Nscenarios,1)) );
else
ROI_ConsumptionPerCapita = ConsumptionPerCapita;
ROI_EcoConsumptionPerCapita = EcoConsumptionPerCapita;
ROI_LiabilityUtilityPerCapita = zeros(size(ConsumptionPerCapita));
ROI_AbatementCostUtility = AbatementCostUtility;
end
ppmCO2=squeeze(MassDist(:,1,:))' /2.13;
if ecoshare==0
EffectiveConsumptionPerCapita = max(ConsumptionPerCapita .* (1 - EffectiveConsumptionDamages - AbatementCostUtility),mincons/1e3);
EquivalentMaterialConsumptionPerCapita = EffectiveConsumptionPerCapita;
ROI_EffectiveConsumptionPerCapita = max(ROI_ConsumptionPerCapita .* (1 - EffectiveConsumptionDamages - ROI_AbatementCostUtility),mincons/1e3);
ROI_EquivalentMaterialConsumptionPerCapita = ROI_EffectiveConsumptionPerCapita;
UtilityPC = calcutility(ROI_EffectiveConsumptionPerCapita);
EquivalentMaterialUtilityPC = UtilityPC;
UtilityDiscountedTotal = real((UtilityPC + ROI_LiabilityUtilityPerCapita).* ROI_Population .* repmat(rr,Nscenarios,1));
Welfare = sum(UtilityDiscountedTotal,2);
ExpectedWelfare = mean(Welfare);
EquivalentMaterialWelfare = Welfare;
EquivalentMaterialExpectedWelfare = ExpectedWelfare;
else
EffectiveConsumptionPerCapita = ((1-ecosh).*ConsumptionPerCapita.^(1-1./ecoel) + ecosh .* EcoConsumptionPerCapita.^(1-1./ecoel)).^(ecoel./(ecoel-1));
EffectiveConsumptionPerCapita = max(mincons/1e3,EffectiveConsumptionPerCapita .* (1 - EffectiveConsumptionDamages - AbatementCostUtility));
EquivalentMaterialConsumptionPerCapita = ( ( ( (1-ecosh).*ConsumptionPerCapita.^(1-1./ecoel) + ecosh .* EcoConsumptionPerCapita.^(1-1./ecoel) - ecosh .* repmat(EcoConsumptionPerCapita(:,1).^(1-1./ecoel(:,1)),1,length(t)) ) ./ (1-ecosh)) .^ (ecoel./(ecoel-1)) ) .* (1 - EffectiveConsumptionDamages);
ROI_EffectiveConsumptionPerCapita = ((1-ecosh).*ROI_ConsumptionPerCapita.^(1-1./ecoel) + ecosh .* ROI_EcoConsumptionPerCapita.^(1-1./ecoel)).^(ecoel./(ecoel-1));
ROI_EffectiveConsumptionPerCapita = max(mincons/1e3,EffectiveConsumptionPerCapita .* (1 - ROI_EffectiveConsumptionDamages - ROI_AbatementCostUtility));
ROI_EquivalentMaterialConsumptionPerCapita = ( ( ( (1-ecosh).*ROI_ConsumptionPerCapita.^(1-1./ecoel) + ecosh .* ROI_EcoConsumptionPerCapita.^(1-1./ecoel) - ecosh .* repmat(ROI_EcoConsumptionPerCapita(:,1).^(1-1./ecoel(:,1)),1,length(t)) ) ./ (1-ecosh)) .^ (ecoel./(ecoel-1)) ) .* (1 - ROI_EffectiveConsumptionDamages);
UtilityPC = calcutility(ROI_EffectiveConsumptionPerCapita);
EquivalentMaterialUtilityPC = calcutility(ROI_EquivalentMaterialConsumptionPerCapita);
UtilityDiscountedTotal = real((UtilityPC + ROI_LiabilityUtilityPerCapita).* ROI_Population .* repmat(rr,Nscenarios,1));
Welfare = sum(UtilityDiscountedTotal,2);
ExpectedWelfare = mean(Welfare);
EquivalentMaterialWelfare = sum(real(EquivalentMaterialUtilityPC .* ROI_Population .* repmat(rr,Nscenarios,1)),2);
EquivalentMaterialExpectedWelfare = mean(EquivalentMaterialWelfare);
end
% calculate discount rates
Growth = ROI_ConsumptionPerCapita./repmat(ROI_ConsumptionPerCapita(:,1),1,size(ConsumptionPerCapita,2));
EffectiveGrowth = ROI_EffectiveConsumptionPerCapita./repmat(ROI_EffectiveConsumptionPerCapita(:,1),1,size(ConsumptionPerCapita,2));
DiscountFactor = repmat(rr,Nscenarios,1).*(Growth.^-elasmu);
EffectiveDiscountFactor = repmat(rr,Nscenarios,1).*(EffectiveGrowth.^-elasmu);
DiscountRate = bsxfun(@power,DiscountFactor(:,1:end-1)./DiscountFactor(:,2:end),1./diff(t))-1;
EffectiveDiscountRate = bsxfun(@power,EffectiveDiscountFactor(:,1:end-1)./EffectiveDiscountFactor(:,2:end),1./diff(t))-1;
Emissions_Gross = bsxfun(@plus,FossilEmissions_Gross + LandEmissions_Gross,incrementalemissions);
if nargout>1
scenario.Population = Population;
scenario.ExpectedWelfare = ExpectedWelfare;
scenario.Welfare = Welfare;
scenario.abatement = miu;
scenario.abatementnonco2 = forcothmiu;
scenario.Consumption = Consumption;
scenario.ConsumptionPerCapita = ConsumptionPerCapita;
scenario.EcoConsumptionPerCapita = EcoConsumptionPerCapita;
scenario.EffectiveConsumptionPerCapita = EffectiveConsumptionPerCapita;
scenario.UtilityPerCapita = UtilityPC;
scenario.UtilityDiscountedTotal = UtilityDiscountedTotal;
scenario.Output_Gross = Output_Gross;
scenario.Output = Output;
scenario.Investment = Investment;
scenario.Capital = Capital;
scenario.ClimateDamages = ClimateDamages;
scenario.EcoClimateDamages = EcoClimateDamages;
scenario.CapitalClimateDamages = CapitalClimateDamages;
scenario.EffectiveConsumptionDamages = EffectiveConsumptionDamages;
scenario.AbatementCost = AbatementCost;
scenario.EarlyRetirementCost = EarlyRetirementCost;
scenario.FossilEmissions = FossilEmissions;
scenario.Emissions = Emissions;
scenario.Emissions_Gross = Emissions_Gross;
scenario.CumulativeEmissions = CumulativeEmissions;
scenario.Tatm = Tatm;
scenario.Tocean = Tocean;
scenario.ppmCO2 = ppmCO2;
scenario.Forcing = Forcing;
scenario.ForcingNonCO2 = ForcingNonCO2;
% scenario.UtilityScalePoints = [utilscalptsy(:) utilscalptsx(:)];
scenario.EquivalentMaterialConsumptionPerCapita = EquivalentMaterialConsumptionPerCapita;
scenario.EquivalentMaterialUtilityPerCapita = EquivalentMaterialUtilityPC;
scenario.EquivalentMaterialWelfare = EquivalentMaterialWelfare;
scenario.EquivalentMaterialExpectedWelfare = EquivalentMaterialExpectedWelfare;
scenario.DiscountFactor = DiscountFactor;
scenario.EffectiveDiscountFactor = EffectiveDiscountFactor;
scenario.DiscountRate = DiscountRate;
scenario.EffectiveDiscountRate = EffectiveDiscountRate;
if doROI
scenario.ROI.Population = ROI_Population;
scenario.ROI.Consumption = ROI_Consumption;
scenario.ROI.Abatement = ROI_Abatement;
scenario.ROI.AbatementCost = ROI_AbatementCost;
scenario.ROI.Emissions = ROI_Emissions;
scenario.ROI.Emissions_Gross = bsxfun(@times,Emissions_Gross,ROI_femit);
scenario.ROI.Liability = ROI_Liability;
scenario.ROI.Output = ROI_Output;
scenario.ROI.Output_Gross = ROI_OutputGross;
scenario.ROI.ClimateDamages = ROI_ClimateDamages;
scenario.ROI.EffectiveConsumptionPerCapita = ROI_ConsumptionPerCapita;
scenario.ROI.LiabilityUtilityPerCapita = ROI_LiabilityUtilityPerCapita;
scenario.ROI.Tatm = ROI_Tatm;
else
scenario.ROI = 0;
end
%scenario.CarbonEmittingEnergyStock = bsxfun(@times,sigma,Output_Gross.*max(0,1-miu));
%scenario.CarbonFreeEnergyStock = bsxfun(@times,sigma,Output_Gross.*min(1,miu));
%scenario.CarbonNegativeEnergyStock = bsxfun(@times,sigma,Output_Gross.*max(0,miu-1));
%scenario.NewBuildsCarbonEmitting(:,2:Nt) = scenario.CarbonEmittingEnergyStock(:,2:Nt) - %scenario.CarbonEmittingEnergyStock(:,1:Nt-1).*(t(2)-t(1))./plantlife;
%scenario.NewBuildsCarbonFree(:,2:Nt) = scenario.CarbonFreeEnergyStock(:,2:Nt) - %scenario.CarbonFreeEnergyStock(:,1:Nt-1).*(t(2)-t(1))./plantlife;
%scenario.NewBuildsCarbonNegative(:,2:Nt) = scenario.CarbonNegativeEnergyStock(:,2:Nt) - %scenario.CarbonNegativeEnergyStock(:,1:Nt-1).*(t(2)-t(1))./plantlife;
end
end
function newTemps = DCM(Forcing,Atm,Ocean,cses,ocean_diffusivity,sbconst,Cp_mixed,z_mixed,z_deep,Ndeepboxes,dt)
y = DiffusiveClimateModel(Forcing,[Atm permute(Ocean,[1 3 2])],cses,ocean_diffusivity,sbconst,Cp_mixed,z_mixed,z_deep,Ndeepboxes,dt);
newTemps=permute(y(end,:,:),[3 2 1]);
end