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Economic Risk, Resources and Environment (ERRE) model

software
posted on 04.03.2020 by Aled Jones, Roberto Pasqualino
Economic Risk, Resources and Environment (ERRE) is a system dynamics model whose purpose is to analyse the financial pressures emerging from global economic growth while coping with natural limits in both energy and agricultural systems. A major feature of the model is to integrate in the same framework both the dynamic evolution of long term phenomena (e.g. energy transition, climate effects) and the short to medium term structures that are more relevant to decision making in the real world (e.g. extreme weather effects, irrational behaviours of markets).

A book, Resources, Financial Risk and Dynamics of Growth: Systems and Global Society by Roberto Pasqualino and Aled Jones, was published in 2020 by Routledge and describes the background to this model development. Here you will find the appendix to that book (Appendix_ERRE.pdf) which contains the detail equations and model structure alongside the Vensim ERRE model (ERRE_Model_10012020.vpm), a short guide (ERRE Vensim Reader Guide.pdf) and scenario runs and data (*.vdf files).

This model was built in Vensim 7 (https://vensim.com/vensim-7-release/) which should be used to run this model to reproduce the same output as presented in the book. You can install Vensim 7 using the VensimREDx32Setup.exe file included here. There may be some differences if using a different version of Vensim due to different rounding approaches used in the software platform.

Funding

Sustainable Prosperity: Centre for the Understanding of Sustainable Prosperity

Economic and Social Research Council

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