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A Model of Technology Selection by Cost Minimizing Producers

Author

Listed:
  • Dean W. Boyd

    (Decision Focus, Inc., Palo Alto, California)

  • Robert L. Phillips

    (Decision Focus, Inc., Palo Alto, California)

  • Stephan G. Regulinski

    (Decision Focus, Inc., Palo Alto, California)

Abstract

A set of microeconomic assumptions are presented that lead to a model of the technology choices made by producers of a homogenous energy product. Under these assumptions it is possible to model the technology selection decision as being made solely to minimize product cost. Since the cost of producing energy using a particular technology will be different for different producers, a number of technologies will be adopted in the market rather than a single, "least-cost" technology.

Suggested Citation

  • Dean W. Boyd & Robert L. Phillips & Stephan G. Regulinski, 1982. "A Model of Technology Selection by Cost Minimizing Producers," Management Science, INFORMS, vol. 28(4), pages 418-424, April.
    • Handle: RePEc:inm:ormnsc:v:28:y:1982:i:4:p:418-424
    DOI: 10.1287/mnsc.28.4.418
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    Cited by:

    1. Ashina, Shuichi & Nakata, Toshihiko, 2008. "Quantitative analysis of energy-efficiency strategy on CO2 emissions in the residential sector in Japan - Case study of Iwate prefecture," Applied Energy, Elsevier, vol. 85(4), pages 204-217, April.
    2. Reister, David B., 1990. "2.3 The hybrid approach to demand modeling," Energy, Elsevier, vol. 15(3), pages 249-260.
    3. Ashina, Shuichi & Nakata, Toshihiko, 2008. "Energy-efficiency strategy for CO2 emissions in a residential sector in Japan," Applied Energy, Elsevier, vol. 85(2-3), pages 101-114, February.
    4. Riddle, Matthew & Macal, Charles M. & Conzelmann, Guenter & Combs, Todd E. & Bauer, Diana & Fields, Fletcher, 2015. "Global critical materials markets: An agent-based modeling approach," Resources Policy, Elsevier, vol. 45(C), pages 307-321.

    More about this item

    Keywords

    market share; energy modeling;

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