Energy security, energy modelling and uncertainty
Markandya, A. and Pemberton, M., 2010. Energy security, energy modelling and uncertainty. Energy Policy, 38 (4), pp. 1609-1613.
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The paper develops a framework to analyze energy security in an expected utility framework, where there is a risk of disruption of imported energy. The analysis shows the importance of an energy tax as a tool in maximizing expected utility, and how the level of that tax varies according to the key parameters of the system: risk aversion, probability of disruption, demand elasticity and cost of disruption.
|Creators||Markandya, A.and Pemberton, M.|
|Departments||Faculty of Humanities & Social Sciences > Economics|
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