Research

Energy security, energy modelling and uncertainty


Reference:

Markandya, A. and Pemberton, M., 2010. Energy security, energy modelling and uncertainty. Energy Policy, 38 (4), pp. 1609-1613.

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Official URL:

http://dx.doi.org/10.1016/j.enpol.2009.01.046

Abstract

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.

Details

Item Type Articles
CreatorsMarkandya, A.and Pemberton, M.
DOI10.1016/j.enpol.2009.01.046
DepartmentsFaculty of Humanities & Social Sciences > Economics
RefereedYes
StatusPublished
ID Code19360

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