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A control model of policy uncertainty and energy R&D investments

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  • Ekundayo Shittu
  • Erin Baker

Abstract

Using an optimal control model, we explore the reaction of a firm's optimal investment into an R&D program that aims at non-carbon technologies under uncertainties about a future carbon tax. We find; first, that the influence of risk on investment decisions depends on model formulation. Second, near-term investments decrease in risk in the magnitude of a carbon tax, but increase in uncertainty in the timing of a carbon tax.

Suggested Citation

  • Ekundayo Shittu & Erin Baker, 2009. "A control model of policy uncertainty and energy R&D investments," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 32(4), pages 307-327.
    • Handle: RePEc:ids:ijgeni:v:32:y:2009:i:4:p:307-327
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    Citations

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    Cited by:

    1. Guo, Jian-Xin & Zhu, Lei & Fan, Ying, 2016. "Emission path planning based on dynamic abatement cost curve," European Journal of Operational Research, Elsevier, vol. 255(3), pages 996-1013.
    2. Ekundayo Shittu & Geoffrey Parker & Nancy Mock, 2018. "Improving communication resilience for effective disaster relief operations," Environment Systems and Decisions, Springer, vol. 38(3), pages 379-397, September.
    3. Shittu, Ekundayo & Kamdem, Bruno G. & Weigelt, Carmen, 2019. "Heterogeneities in energy technological learning: Evidence from the U.S. electricity industry," Energy Policy, Elsevier, vol. 132(C), pages 1034-1049.
    4. Tianye Wang & Ekundayo Shittu, 2023. "Simulating the Impact of the U.S. Inflation Reduction Act on State-Level CO 2 Emissions: An Integrated Assessment Model Approach," Sustainability, MDPI, vol. 15(24), pages 1-16, December.
    5. Hirsh Bar Gai, Dor & Shittu, Ekundayo & Attanasio, Donna & Weigelt, Carmen & LeBlanc, Saniya & Dehghanian, Payman & Sklar, Scott, 2021. "Examining community solar programs to understand accessibility and investment: Evidence from the U.S," Energy Policy, Elsevier, vol. 159(C).
    6. Ekundayo Shittu & Geoffrey Parker & Xiaoyue Jiang, 2015. "Energy technology investments in competitive and regulatory environments," Environment Systems and Decisions, Springer, vol. 35(4), pages 453-471, December.
    7. Ilka Deluque & Ekundayo Shittu & Jonathan Deason, 2018. "Evaluating the reliability of efficient energy technology portfolios," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 6(1), pages 115-138, June.
    8. Baker, T.E. & Epiney, A.S. & Rabiti, C. & Shittu, E., 2018. "Optimal sizing of flexible nuclear hybrid energy system components considering wind volatility," Applied Energy, Elsevier, vol. 212(C), pages 498-508.
    9. Epiney, A. & Rabiti, C. & Talbot, P. & Alfonsi, A., 2020. "Economic analysis of a nuclear hybrid energy system in a stochastic environment including wind turbines in an electricity grid," Applied Energy, Elsevier, vol. 260(C).

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