We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural uncertainty and uncertainty from the anticipation...

Exact optimal paths are calculated for two closed, continuous-time economies with explicit functional forms for utility from consumption, and for production from human-made capital and a non-renewable resource. Features of the first economy are non-linear utility, hyperbolic utility discounting...

We analyze a multi-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously determines whether technical progress will be capital- or...

Purpose – IPv6 is the replacement for the Internet’s incumbent protocol, IPv4. IPv6 adoption is required to allow the Internet to continue to grow; however, there has been almost no uptake since its standardisation in the late 1990s. This paper seeks to explain how this non-adoption may be a...

The current commodity boom is a major opportunity for poor countries exportingexhaustible resources such as oil. In the past oil booms were often mismanaged leaving the country with lower long run income. Many countries are now well aware that booms require intricate savings and investment...

Plug-in Hybrid Electric Vehicles (PHEVs) will soon start to be introduced into the transportation sector, thereby raising a host of issues related to their use, adoption and effects on the electricity sector. Their introduction has the potential to significantly reduce carbon emissions from the...

Energy forecasts are widely used by the U.S. government, politicians, think tanks,and utility companies. While short-term forecasts were reasonably accurate, medium andlong-range forecasts have almost always been highly erroneous. In the U.S. many energypolicy decisions are driven by Annual...

Public policy has played a critical role in creating and shaping global renewable energymarkets. Yet 30 years since the passage of the first federal program in the U.S., under thePublic Utilities Regulatory Policies Act (PURPA), renewable power generation still constitutesless than three percent...

This paper analyzes the economic effects of environmental taxes on chemical fertilizer in producing rice. A charge of 10 percent tax on nitrogen fertilizer leads to a reduction in fertilizer use of 1.5 percent without changing rice yield, but the farm income is reduced by 0.6 percent. The tax...