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Optimal nuclear waste burial policy under uncertainty

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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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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2008/V08092.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number v08092.

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Length: 20 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:mse:cesdoc:v08092

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Keywords: Nuclear waste; pollution; growth; uncertainty.;

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Cited by:
  1. Jouvet, Pierre-André & Renner, Marie, 2014. "Social Acceptance and Optimal Pollution: CCS or Tax ?," Economics Papers from University Paris Dauphine 123456789/12981, Paris Dauphine University.
  2. Ayong Le Kama, Alain & Fodha, Mouez & Lafforgue, Gilles, 2009. "Optimal Carbon Capture and Storage Policies," TSE Working Papers 09-095, Toulouse School of Economics (TSE).

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