Two extensions are provided to a model of lumpy investment originally formulated by Srinivasan. The extensions are provided in the context of an electric utility. The first extension shows the effect on optimal cycle time and investment size of constraining an electric utility to carry excess...

The greenhouse effect is intrinsically global. Accordingly, effective responses require global coordination. While limited policies have been adopted, notably for phasing out chlorofluorocarbons, there is no clear consensus as to what to do about other greenhouse gases. In this paper, we survey...

Projections of the future demand for electricitypublished annually since 1974 by the North American Electric Reliability Council (NERC) have proved in retrospect to have been too high and the projected growth rate has been revised downward each year. Should forecasters have been able to do a...

Electricity demand in the United States declined in 1974 after over twenty years of sustained growth. By 1976, the growth rate was back up to 5 percent, but since then it has eroded steadily, with demand in 1982 slightly less than in 1981. This paper provides a simple way to understand these...

This paper focuses on the impacts of changes in world energy prices on an energy-importing economy such as the United States. To this end, we use a simple energy-economy model developed by Sweeney [7] and having affinities to the earlier work of Hogan and Manne [5]. This model takes explicit...

This paper explores the incentives for participation in international CO2 control agreements using tradable emission permits. We employ a welfare analysis in a two-region model to explore these incentives. The two regions are Annex-I (A-I) and Non-Annex I (Non-A-I). A key insight underlying the...