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Energy security, energy modelling and uncertainty

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  • Markandya, Anil
  • Pemberton, Malcolm

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.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 38 (2010)
Issue (Month): 4 (April)
Pages: 1609-1613

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Handle: RePEc:eee:enepol:v:38:y:2010:i:4:p:1609-1613

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Web page: http://www.elsevier.com/locate/enpol

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Cited by:
  1. Xavier Labandeira & Baltasar Manzano, 2012. "Some Economic Aspects of Energy Security," Working Papers 09-2012, Economics for Energy.
  2. Abada, I. & Massol, O., 2011. "Security of supply and retail competition in the European gas market: Some model-based insights," Working Papers 11/04, Department of Economics, City University London.
  3. Tang, Xu & Snowden, Simon & Höök, Mikael, 2013. "Analysis of energy embodied in the international trade of UK," Energy Policy, Elsevier, vol. 57(C), pages 418-428.
  4. Iskin, Ibrahim & Daim, Tugrul & Kayakutlu, Gulgun & Altuntas, Mehmet, 2012. "Exploring renewable energy pricing with analytic network process — Comparing a developed and a developing economy," Energy Economics, Elsevier, vol. 34(4), pages 882-891.
  5. Baltasar Manzano & Luis Rey, 2012. "The Welfare Cost of Energy Insecurity," Working Papers fa07-2012, Economics for Energy.
  6. Webster, Allan & Ayatakshi, Sukanya, 2013. "The effect of fossil energy and other environmental taxes on profit incentives for change in an open economy: Evidence from the UK," Energy Policy, Elsevier, vol. 61(C), pages 1422-1431.

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