Agent-Based models – ABM
The application of Agent Based Models to issues such as climate change and the energy transition is a relatively unexplored area, although this methodology is particularly suitable to analyze climate policy from a bottom-up perspective. In fact, Agent-Based Models – ABM have existed for decades and their application in economics has had a growing importance since the financial crisis of 2007, mainly in the analysis of endogenous economic and financial fluctuations (such as bubbles and crises).
The project “Agent-Based Modelling – ABM“ for energy transition is a research program aimed at studying and understanding energy transition with respect to the challenge of sustainable growth and climate change. This innovative approach brings together the main factors driving the change in global energy dynamics, as well as the technological, economic, and social aspects.
The main objective of the project is creating an Agent Based Model contextualised in the energy and environment field. In particular, the project aim at study in depth the possible future scenarios and understand the dynamics through a multi-regional perspective.
Main results and outputs
In 2022 it is expected to achieve the following results:
- Development of the MATRIX model (Multi-Agent model for Transition Risks) able to include climate change, mitigation policies and environmental sensitivity of households and consumers (demand-side approach).
- Creation of the full version of the model with the introduction of technological change and differentiated energy sources.
- Drafting of 3 working papers on the 3 innovations of the project.
The activities and outputs of the project are aimed at providing decision-making tools and empirical analysis to support the activities of policy makers both in the field of energy and environmental programming.
In terms of scientific impact, the aim is to improve the state of the art in the following areas of research:
- Agent models applied to the environment and energy economy.
- In terms of economic and social impact, it is intended to provide tools for policies in favour of green energy transition.
- The study of agent models provides a better understanding of shock management and the distributive effects.