Energy security, energy modelling and uncertainty
AbstractThe 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.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Policy.
Volume (Year): 38 (2010)
Issue (Month): 4 (April)
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