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In "The Tragedy of the Commons," Garrett Hardin argues that those who can use a resource for free consume more of it than they would if they had to pay for it. Public resources eventually collapse because people overuse them. Hardin’s widely accepted argument seems correct as far as it goes,...
Persistent link: https://www.econbiz.de/10014244432
We analyze the interaction between a reliable source of electricity production and intermittent sources such as wind or solar power. We first characterize the optimal energy mix, emphasizing the availability of the intermittent source as a major parameter for the optimal investment in capacity....
Persistent link: https://www.econbiz.de/10010740047
Los servicios ecosistémicos que prestan los páramos no cuentan con un precio de mercado y como consecuencia la asignación del uso del suelo en estos ecosistemas resulta ineficiente. En este artículo se estudia el caso del Páramo de Santurbán usando un enfoque de optimización dinámica...
Persistent link: https://www.econbiz.de/10010770368
The paper analyzes the interaction between a reliable source of electricity production and intermittent sources such as wind or solar power. We first characterize the first-best dispatch and investment in the two types of energy. We put the accent on the availability of the intermittent source...
Persistent link: https://www.econbiz.de/10008643945
The paper analyzes the interaction between a reliable source of electricity production and intermittent sources such as wind or solar power. We first characterize the first-best dispatch and investment in the two types of energy. We put the accent on the availability of the intermittent source...
Persistent link: https://www.econbiz.de/10008461052
, considering prospective learning increases today?s abatement effort, i.e. the ?irreversibility effect? holds, if the weight on EU … is small. This contrasts standard results on the irreversibility effect for EU which translates to small weights on … MaxiMin. There is, however, the possibility of a negative value of learning. It is shown that the irreversibility effect holds …
Persistent link: https://www.econbiz.de/10010298092
standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of …
Persistent link: https://www.econbiz.de/10010299491
standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of …
Persistent link: https://www.econbiz.de/10010299956
degrees of investment irreversibility defined on the basis of market structures and access to secondary markets for capital … partial irreversibility. …
Persistent link: https://www.econbiz.de/10010329904
A sudden change in monetary policy happened in Switzerland on January 15th, 2015. The Swiss National Bank removed a lower exchange rate bound vis-à-vis the Euro. This unexpected change of regime induced a temporary uncertainty about future prices in foreign markets. We believe that this hampers...
Persistent link: https://www.econbiz.de/10011582405