First modeling ideas of Case Study Groups

Modeling is an extremely complex process. While we enjoy your submissions and try to answer all your questions, we can do so in this framework only to a certain degree.

That is why we decided to use case studies: we selected some Case Study Groups among our students at the University of Basel that will also work on the assignments on either theoretical or numerical modeling. You can learn from their work as we will discuss their models in step 4.5, step 7.3 and step 7.4 in more depth. Note that their submissions are work in progress – and we invite you as part of this course to give your comments and ideas about what they present.

Let us first summarize what we ask the University of Basel students to do:

First, please state what assignment and specifications of this assignment you have chosen. Now, describe your problem/question in 1–3 sentences and write a brief paragraph giving your peers an insight into what you think will drive the results of your theoretical model (Which economic mechanisms might be at work here? What do you want to capture in your model?) or what aspects your numerical model will need to account for (What technical and economic details are needed? What economic decision making shall be included?).

Second, explain how you want to capture this. What are the main aspects of the model you want to develop? Which actors are described, which markets are included, which constraints do you want to include? Please explain this in some detail, so that other participants understand what you want to achieve. If you already have a first or partial model draft, please add it to the description.

Finally, explain why your modeling approach is useful and credible. Why does it capture the mechanisms and challenges that you think are important for the problem at hand? Where would you apply the results? If you develop a theoretical model: Are there real-world cases that might be described (approximately) by your model? If you develop a numerical model: Does your model capture the relevant real-world aspects? Please provide a brief but conclusive argument why you think you have chosen a good modeling approach.

The Case Study Groups have uploaded their modeling ideas! Have a look at them by downloading the related files.