Transport - GCAM
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|Institution||Pacific Northwest National Laboratory, Joint Global Change Research Institute (PNNL, JGCRI), USA, http://www.globalchange.umd.edu.|
|Solution concept||General equilibrium (closed economy)GCAM solves all energy, water, and land markets simultaneously|
|Solution method||Recursive dynamic solution method|
|Anticipation||GCAM is a dynamic recursive model, meaning that decision-makers do not know the future when making a decision today. After it solves each period, the model then uses the resulting state of the world, including the consequences of decisions made in that period - such as resource depletion, capital stock retirements and installations, and changes to the landscape - and then moves to the next time step and performs the same exercise. For long-lived investments, decision-makers may account for future profit streams, but those estimates would be based on current prices. For some parts of the model, economic agents use prior experience to form expectations based on multi-period experiences.|
The transportation sector in GCAM is subdivided into four final demands: long-distance passenger air travel, (other) passenger travel, international freight shipping, and (other) freight. The transportation sector excludes energy consumption and materials moved via pipeline transport (but see gas supply system). Energy used by mobile mining, agricultural, industrial, and construction equipment is similarly not considered as transportation energy use, unless used on roadways and for the primary purpose of moving passengers and/or freight.