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Energy security, energy modelling and uncertainty

The paper develops a framework to analyze energy security in an expected utility framework, where there is a risk of disruption of imported energy. The analysis shows the importance of an energy tax as a tool in maximizing expected utility, and how the level of that tax varies according to the key parameters of the system: risk aversion, probability of disruption, demand elasticity and cost of disruption.
Year of publication:
2010
Authors: Markandya, Anil ; Pemberton, Malcolm
Published in:
Energy Policy. - Elsevier, ISSN 0301-4215. - Vol. 38.2010, 4, p. 1609-1613
Publisher: Elsevier
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Type of publication: Article
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Persistent link: https://www.econbiz.de/10008522991
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