TY - JOUR
T1 - Energy security, energy modelling and uncertainty
AU - Markandya, Anil
AU - Pemberton, M
PY - 2010/4
Y1 - 2010/4
N2 - The paper develops a framework to analyze energy security in an expected utility framework, where there is a risk of disruption of imported energy. The analysis shows the importance of an energy tax as a tool in maximizing expected utility, and how the level of that tax varies according to the key parameters of the system: risk aversion, probability of disruption, demand elasticity and cost of disruption.
AB - The paper develops a framework to analyze energy security in an expected utility framework, where there is a risk of disruption of imported energy. The analysis shows the importance of an energy tax as a tool in maximizing expected utility, and how the level of that tax varies according to the key parameters of the system: risk aversion, probability of disruption, demand elasticity and cost of disruption.
UR - http://www.scopus.com/inward/record.url?scp=75149179230&partnerID=8YFLogxK
UR - http://dx.doi.org/10.1016/j.enpol.2009.01.046
U2 - 10.1016/j.enpol.2009.01.046
DO - 10.1016/j.enpol.2009.01.046
M3 - Article
SN - 0301-4215
VL - 38
SP - 1609
EP - 1613
JO - Energy Policy
JF - Energy Policy
IS - 4
ER -
