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     Current Research Journal of Economic Theory


Using Grey Theory to Predict Shanghai Unit GDP Energy Consumption

Weisi Zhang and Hongyan Li
College of Management, Shanghai University of Engineering Science, Shanghai 201620, China
Current Research Journal of Economic Theory  2014  1:7-10
http://dx.doi.org/10.19026/crjet.6.5530  |  © The Author(s) 2014
Received: November 04, 2013  |  Accepted: November 13, 2013  |  Published: March 20, 2014

Abstract

Energy consumption per unit of GDP, reflecting the environmental costs of economic development, pointed out the direction for urban construction, environmental protection is our common responsibility. In real life, the impact of energy consumption per unit of GDP is complex and uncertain factors, according to a series of known and unknown information, we can predict the energy consumption per unit of GDP as a grey system, so you can use the grey system theory. Grey model requires only a limited amount of data to estimate the unknown system behavior. In this study, first of all, by using the known data we established GM (1, 1) model, Verhulst model and the DGM (2, 1) model predictive analysis. The results show that GM (1, 1) model’s prediction accuracy is higher than the prediction accuracy of Verhulst model and DGM (2, 1) model. Then, Shanghai next unit GDP energy consumption is predicted by GM (1, 1) model.

Keywords:

GM (1, 1) model, grey model, unit GDP energy consumption,


References


Competing interests

The authors have no competing interests.

Open Access Policy

This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.

Copyright

The authors have no competing interests.

ISSN (Online):  2042-485X
ISSN (Print):   2042-4841
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