abstract:
To limit the emission of green house gases, a market of emission permits was installed. We aim to model the emission market in order to learn how regulatory decisions have an impact on the market participants. The modelling results in an optimization problem which solution can be characterized by a Hamilton-Jacobi-Bellman equation. Since we need the solution for many different regulatory conditions, we aim to apply the Reduced Basis Method to the Hamilton-Jacobi-Bellman equation. |