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Optimal Nuclear Waste Burying Policy under Uncertainty

Listed author(s):
  • Alain Ayong Le Kama

    ()

    (EQUIPPE - Economie Quantitative, Intégration, Politiques Publiques et Econométrie - Université de Lille, Sciences et Technologies - Université de Lille, Sciences Humaines et Sociales - PRES Université Lille Nord de France - Université de Lille, Droit et Santé)

  • Mouez Fodha

    ()

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics)

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 hal-00639501.

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Date of creation: 2010
Publication status: Published in Optimal Control Applications and Methods, Wiley, 2010, 31 (1), pp.67-76. 〈10.1002/oca.921〉
Handle: RePEc:hal:cesptp:hal-00639501
DOI: 10.1002/oca.921
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00639501
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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