Funded by: Fondazione Eni Enrico Mattei
February 2021 / December 2022

Energy Environment and Uncertainty Models - EEUMs

The project aims at investigating the issue of uncertainty within the framework of environmental and energy economics, with a focus on renewable resources and the use of new technologies for the decarbonization process. To this end, representative agent models, or strategic models, are used to analyze the dynamics of the traditional energy market as well as the renewable energy market. A specific activity will also study systemic shocks at economic and environmental level, through the development of a module dedicated to uncertainty in an Integrated Assessment Model - IAM.

Main Results and Outputs

The project aims at developing dynamic stochastic economic models, designed to analyze the core theme of the project in a context of uncertainty. Specifically, the project intends to:

  • Develop models aimed at understanding microeconomic contexts characterized by uncertainty, with the goal of analyzing agents’ preferences in terms of energy, with particular emphasis to renewable energies, both in terms of energy consumption and investment;
  • Analyze the macroeconomic dynamics in an uncertain context, taking into account two different perspectives: the first one mainly focus on environmental, climate and sustainability themes, with a focus at the country level; the second one more oriented towards the new pandemic scenario.

For the year 2021, the following results in terms of research outputs are expected to be achieved:

  • Development of ongoing scientific studies, also in continuity with previous EEU program activities, with the aim of publishing the working papers and publications detailed below:

    -  Publications in peer-reviewed international scientific journals;
    -  FEEM working papers.
  • Preparation of a beta version of the IAM-RICE model with uncertainty, with the aim of implementing it in the second year of activity (2022) for subsequent scientific publications.
Project team
Project leader
Nicola Comincioli
Researcher Read more


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