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Subsidizing the Adoption of Energy-Saving Technologies: Analyzing the Impact of Uncertainty, Learning and Maturation

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Author Info
Henri L.F. de Groot () (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam)
Peter Mulder () (Institute for Environmental Studies, Vrije Universiteit Amsterdam)
Daan P. van Soest () (Tilburg University)

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Abstract

As part of the Kyoto Protocol, many countries have committed themselves to substantially reduce the emission of greenhouse gases within a politically imposed time constraint. Investment subsidies can be an important instrument to stimulate the adoption of energy-saving technologies to achieve emission reduction targets. This paper addresses the impact of adoption subsidies on the amount of energy savings, taking into account endogeneity and uncertainty of technological progress. Neglecting these two characteristics of technological progress tends to result in overestimation of the short-run effectiveness of investment subsidies, whereas the effects on long-run effectiveness are ambiguous.

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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 03-019/3.

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Date of creation: 03 May 2004
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Handle: RePEc:dgr:uvatin:20030019

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Related research
Keywords: energy efficiency; investing under uncertainty; subsidies; learning; investment timing.;

Find related papers by JEL classification:
Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Alvarez, Francisco & Amman, Hans, 1999. "Learning-by-Doing under Uncertainty," Computational Economics, Springer, vol. 14(3), pages 255-62, December. [Downloadable!]
  2. Jay Pil Choi, 1994. "Irreversible Choice of Uncertain Technologies with Network Externalities," RAND Journal of Economics, The RAND Corporation, vol. 25(3), pages 382-401, Autumn. [Downloadable!] (restricted)
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  3. Balcer, Yves & Lippman, Steven A., 1984. "Technological expectations and adoption of improved technology," Journal of Economic Theory, Elsevier, vol. 34(2), pages 292-318, December. [Downloadable!] (restricted)
  4. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Théophile T. Azomahou & Raouf Boucekkine & Phu Nguyen-Vanc, . "Promoting Clean Technologies: The Energy Market Structure Crucially Matters," Working Papers 2008_13, Department of Economics, University of Glasgow. [Downloadable!]
    Other versions:
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