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change of preference parameters #1585

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merged 3 commits into from
Feb 29, 2024
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mleimbach
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@mleimbach mleimbach commented Feb 28, 2024

Purpose of this PR

Change of preference parameters - time preference rate and intertemporal elasticity of substitution - adjust to more commonly used values. This requires an update of the mark ups/interest rates used in energy investment equations to keep them in line with market interest rates.

Type of change

(Make sure to delete from the Type-of-change list the items not relevant to your PR)

  • Minor change (default scenarios show only small differences)
  • Fundamental change
  • This change requires a documentation update

Checklist:

  • My code follows the coding etiquette
  • I performed a self-review of my own code
  • I explained my changes within the PR, particularly in hard-to-understand areas
  • I checked that the in-code documentation is up-to-date
  • I adjusted the reporting in remind2 where it was needed
  • I adjusted forbiddenColumnNames in readCheckScenarioConfig.R in case the PR leads to deprecated switches
  • All automated model tests pass (FAIL 0 in the output of make test)
  • The changelog CHANGELOG.md has been updated correctly

Further information (optional):

  • Test runs are here:
  • Comparison of results (what changes by this PR?):

@mleimbach mleimbach marked this pull request as ready for review February 28, 2024 14:05
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@LaviniaBaumstark LaviniaBaumstark left a comment

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are you following all naming conventions and codeCheck still working? Please run make testfor being sure.
Is there an update in existing scenario_config-files necessary?

main.gms Outdated
@@ -658,7 +658,7 @@ parameter
parameter
cm_prtpScen "pure rate of time preference standard values"
;
cm_prtpScen = 3; !! def = 3 !! regexp = 1|3
cm_prtpScen = 1; !! def = 3 !! regexp = 1|3
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please adjust the default value

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Default value adjusted. CodeCheck done: [ FAIL 0 | WARN 0 | SKIP 6 | PASS 83 ]
Switch cm_prtpScen obviously not used in scenario_config files.

@mleimbach mleimbach merged commit 74fe936 into remindmodel:develop Feb 29, 2024
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0UmfHxcvx5J7JoaOhFSs5mncnisTJJ6q added a commit to 0UmfHxcvx5J7JoaOhFSs5mncnisTJJ6q/remind that referenced this pull request Apr 2, 2024
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2 participants