In the pristine model of general economic equilibrium producers and consumers are assumed to take prices for their inputs and outputs as given. A market equilibrium solution is obtained when the prices of all products lead to equal amounts of supply and demand for each. The mathematical...

A number of proposals for reducing the level of exposure of the oil importing countries to oil supply interruptions are reviewed and contrasted. Although none of these options is without cost or complication, several appear to offer significant benefits relative to the status quo. Now is the...

The benefits attributable to alternative energy R & D programs should be evaluated in terms of how well the technologies contribute as integral elements of the total United States energy system (rather than as isolated entities, as has typically been done in the past). Thus, the present model...

This article will explain how data analysis and modeling can be used in planning in the volatile environment in which the industry currently operates. The discussion will be quantitative and systematic in terms of trying to integrate the various components of the picture, i.e., OPEC supply and...

To what extent have quantitative models been used in the formulation of policy? The author addresses this question by examining two issues confronted by the Ninety-fourth Congress, oil price decontrol and synthetic fuels commercialization. He describes the influence of results from the...

Today there is an increased tendency to integrate different kinds of modeling methods so as to provide a more complete and accurate model of the total system being considered. Integrated modeling theory is discussed and examples provided.