IDEAS home Printed from https://ideas.repec.org/a/eee/spapps/v44y1993i1p117-139.html
   My bibliography  Save this article

An application of reflected diffusions to the problem of choosing between hydro and thermal power generation

Author

Listed:
  • Kobila, T. Ø.

Abstract

It is shown that a certain type of stochastic control problems has a solution (optimal stochastic process) which can be realized as a diffusion with vertical reflection on the boundary of a planar set. The stochastic control problem is motivated by the specific question whether further expansion of the electricity supply system should be based on thermal power (where only fuel costs are taken into account) or on hydro power (where only the initial construction costs are considered), given a stochastic demand.

Suggested Citation

  • Kobila, T. Ø., 1993. "An application of reflected diffusions to the problem of choosing between hydro and thermal power generation," Stochastic Processes and their Applications, Elsevier, vol. 44(1), pages 117-139, January.
    • Handle: RePEc:eee:spapps:v:44:y:1993:i:1:p:117-139
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/0304-4149(93)90041-2
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Madlener, Reinhard & Kumbaroglu, Gurkan & Ediger, Volkan S., 2005. "Modeling technology adoption as an irreversible investment under uncertainty: the case of the Turkish electricity supply industry," Energy Economics, Elsevier, vol. 27(1), pages 139-163, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:spapps:v:44:y:1993:i:1:p:117-139. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/505572/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.