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Optimal Nuclear Waste Burial Policy under Uncertainty

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  • Alain Ayong Le Kama

    ()
    (EQUIPPE - ECONOMIE QUANTITATIVE, INTEGRATION, POLITIQUES PUBLIQUES ET ECONOMETRIE - Université Lille I - Sciences et technologies - Université Lille II - Droit et santé - Université Lille III - Sciences humaines et sociales - PRES Université Lille Nord de France)

  • Mouez Fodha

    ()
    (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris I - Panthéon-Sorbonne, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)

Abstract

The aim of this paper is to study the optimal nuclear waste burial policy under an uncertainty : the possibility that an accident might occur in the future. The framework is an optimal growth model with pollution disutility. We show, under some conditions on the waste burial policy, that nuclear power may be a long-term solution for the world energy demand. Under uncertainty on the future safety of the buried waste, the social planner will decide to decrease the rate of waste burying, but the evolution of consumption and hence the evolution of the level of buried waste, are ambiguous. Depending on some simple conditions on the balanced growth rate of the economy and on the preference parameters of the households, the optimal amount of buried waste may increase, even if there is a risk of accident in the future.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00348869.

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Date of creation: Jul 2008
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Handle: RePEc:hal:cesptp:halshs-00348869

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Keywords: Nuclear waste; pollution; growth; uncertainty;

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Cited by:
  1. Alain Ayong Le Kama & Mouez Fodha & LAFFORGUE Gilles, 2009. "Optimal Carbon Capture and Storage policies," LERNA Working Papers, LERNA, University of Toulouse 09.24.300, LERNA, University of Toulouse.
  2. Jouvet, Pierre-André & Renner, Marie, 2014. "Social Acceptance and Optimal Pollution: CCS or Tax ?," Economics Papers from University Paris Dauphine, Paris Dauphine University 123456789/12981, Paris Dauphine University.

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