کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
959275 1478878 2010 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Risk aversion and CO2 regulatory uncertainty in power generation investment: Policy and modeling implications
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Risk aversion and CO2 regulatory uncertainty in power generation investment: Policy and modeling implications
چکیده انگلیسی

We consider a simulation of risk-averse producers when making investment decisions in a competitive energy market, who face uncertainty about future regulation of carbon dioxide emissions. Investments are made under regulatory uncertainty; then the regulatory state is revealed and producers realize returns. We consider anticipated taxes, grandfathered permits and auctioned permits and show that some anticipated policies increase investment in the relatively dirty technology. Beliefs about the policy instrument that will be used to price carbon may be as important as certainty that carbon will be priced. More generally, a failure to consider risk aversion may bias policy analysis for the power sector.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Environmental Economics and Management - Volume 60, Issue 3, November 2010, Pages 193–208
نویسندگان
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