From 95ba2577443f6b8fe353ad600681e3ebb4084f45 Mon Sep 17 00:00:00 2001 From: Gernot Wagner Date: Thu, 15 Mar 2018 10:47:11 -0400 Subject: [PATCH 1/5] Update README.md --- README.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/README.md b/README.md index c52a603..1ed9610 100644 --- a/README.md +++ b/README.md @@ -11,6 +11,8 @@ See the [EZ-Climate User's Guide](https://oscarsjogren.github.io/dlw/) for EZ-Cl In order to get the tip documentation, change directory to the `doc` subfolder and type in `make html`, the documentation will be under `../../ez_climate_docs/html`. You will need [Sphinx](http://sphinx.pocoo.org) to build the documentation. +See [Applying Asset Pricing Theory to Calibrate the Price of Climate Risk](https://gwagner.com/daniel-litterman-wagner-applying-asset-pricing-theory-to-calibrate-the-price-of-climate-risk/) for the latest working paper employing this code. + ## Installation We encourage you to use pip to install ezclimate on your system. From 3344acffa60cf7ad3c76d9076deb0b2d6e26f1a6 Mon Sep 17 00:00:00 2001 From: Gernot Wagner Date: Thu, 15 Mar 2018 10:47:50 -0400 Subject: [PATCH 2/5] Update LICENSE --- LICENSE | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/LICENSE b/LICENSE index c4d24aa..722b3db 100644 --- a/LICENSE +++ b/LICENSE @@ -1,6 +1,6 @@ MIT License -Copyright (c) 2017 Robert Litterman, Kent Daniel, Gernot Wagner +Copyright (c) 2018 Robert Litterman, Kent Daniel, Gernot Wagner Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal @@ -18,4 +18,4 @@ FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE -SOFTWARE. \ No newline at end of file +SOFTWARE. From f95fadcd2ba7c10c73114d47386b7fc04db189f7 Mon Sep 17 00:00:00 2001 From: Gernot Wagner Date: Fri, 30 Mar 2018 10:40:47 -0400 Subject: [PATCH 3/5] Update bau.py Change "period_len[n]" to "period_len[n-1]" to reflect correct period length. --- ezclimate/bau.py | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/ezclimate/bau.py b/ezclimate/bau.py index 70d3732..c7f2fa2 100755 --- a/ezclimate/bau.py +++ b/ezclimate/bau.py @@ -127,7 +127,7 @@ def bau_emissions_setup(self, tree): for n in range(1, num_periods): self.emission_by_decisions[n] = self.emission_by_time(tree.decision_times[n]) - self.emission_per_period[n] = period_len[n] * (self.emission_by_decisions[n-1:n].mean()) + self.emission_per_period[n] = period_len[n-1] * (self.emission_by_decisions[n-1:n].mean()) #the total increase in ghg level of 600 (from 400 to 1000) in the bau path is allocated over time self.emission_to_ghg = (self.ghg_end - self.ghg_start) * self.emission_per_period / self.emission_per_period.sum() From 718565dab135c3500eb29388f0ade56ceb4c9fe0 Mon Sep 17 00:00:00 2001 From: Gernot Wagner Date: Fri, 30 Mar 2018 10:42:13 -0400 Subject: [PATCH 4/5] Update setup.py --- setup.py | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/setup.py b/setup.py index 89d5101..f601287 100644 --- a/setup.py +++ b/setup.py @@ -18,7 +18,7 @@ 'Programming Language :: Python :: 2.7', 'Programming Language :: Python :: 3.4' ], - keywords='EZ-climate, social cost of carbon, SCC, climate pricing', + keywords='EZ-climate, optimal carbon price, CO2 tax, social cost of carbon, SCC, climate pricing', url='http://github.com/Litterman/EZClimate', author='Robert Litterman, Kent Daniel, Gernot Wagner', license='MIT', From c3c73d4f7752ec41888438b3294a423b12776a37 Mon Sep 17 00:00:00 2001 From: Gernot Wagner Date: Fri, 30 Mar 2018 10:47:20 -0400 Subject: [PATCH 5/5] Update bau.py Changed "(self.emission_by_decisions[n-1:n].mean())" to "(self.emission_by_decisions[n-1] + self.emission_by_decisions[n]) / 2". The former did not calculate the mean but only took the first element self.emission_by_decisions[n-1]. --- ezclimate/bau.py | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/ezclimate/bau.py b/ezclimate/bau.py index c7f2fa2..61109de 100755 --- a/ezclimate/bau.py +++ b/ezclimate/bau.py @@ -127,7 +127,7 @@ def bau_emissions_setup(self, tree): for n in range(1, num_periods): self.emission_by_decisions[n] = self.emission_by_time(tree.decision_times[n]) - self.emission_per_period[n] = period_len[n-1] * (self.emission_by_decisions[n-1:n].mean()) + self.emission_per_period[n] = period_len[n-1] * (self.emission_by_decisions[n-1] + self.emission_by_decisions[n]) / 2 #the total increase in ghg level of 600 (from 400 to 1000) in the bau path is allocated over time self.emission_to_ghg = (self.ghg_end - self.ghg_start) * self.emission_per_period / self.emission_per_period.sum()