Showing 41 - 50 of 21,858
-renewable resources is combined with stock externalities. The control is exercised via a corrective tax and the time horizon is divided …
Persistent link: https://www.econbiz.de/10005190573
The optimal capacity and location of a sequence of landfills are studied, and the interactions between both decisions … are pointed out. Deciding the capacity of a landfill has some spatial implications, because it effects the feasible region … for the rest of the landfills, and some temporal implications because the capacity determines the lifetime of the landfill …
Persistent link: https://www.econbiz.de/10005063195
capacity is only available at elevated costs, Chinese power generators could turn to the global trade markets and increase … marginal costs of steam coal supply in Europe. Increasing Chinese demand for steam coal will lead to a growing need for … long run marginal costs of supply for Europe and the US but significant effects for China. -- Steam coal ; MCP ; non …
Persistent link: https://www.econbiz.de/10008661918
This paper extends the classical exhaustible-resource/stock-pollution model with the irreversibility of pollution decay. Within this framework, we answer the question how the potential irreversibility of pollution affects the extraction path. We investigate the conditions under which the economy...
Persistent link: https://www.econbiz.de/10009230860
We propose an equilibrium model of exhaustible resources in a comprehensive setting, including exploration, stochastic … for general exhaustible resources (e.g., coal, natural gas, etc.). (2) In terms of spot prices, the combination of … exploration and adjustment costs can significantly prolong the period of time that a spot price stays at the bottom, which …
Persistent link: https://www.econbiz.de/10012862218
This paper develops a model of a profit maximizing firm with the option to exploit a non-renewable resource, choosing the timing and pace of development. The resource price is modelled as a regime switching process, which is calibrated to oil futures prices. A Hamilton-Jacobi-Bellman equation is...
Persistent link: https://www.econbiz.de/10012938381
physical, operational and financial constraints such as: storage capacity, crude oil spot price volatility, amount quantity …
Persistent link: https://www.econbiz.de/10012948156
Induced innovation and associated issues of path dependence and inertia are of critical importance in the transition to a carbon free economy. We develop a model that, instead of modeling these processes themselves, models the implications of these characteristics and in the process allows us to...
Persistent link: https://www.econbiz.de/10012404201
facts concerning the exploitation of exhaustible resources such as oil. Our approach introduces geological constraints into … reserves and strictly convex exploration costs, can coherently explain bell-shaped peaks in natural resource extraction and …
Persistent link: https://www.econbiz.de/10012904867
In this paper, we state sufficiency, necessity, convergence, existence and uniqueness results for infinite horizon optimal control problems with unbounded payoffs in which the assumptions are very weak and there are no topological assumptions about the model components. We also state a sequence...
Persistent link: https://www.econbiz.de/10012907112