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The Treatment of Change

In: Fixed and Variable Costs

Author

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  • Chris Harris

Abstract

In much modeling of power systems, we assume a load variation that is steady state (cycling in a deterministic way) or at least stationary (stochastic cycling with constant probability coefficients). We commonly assume a stationary stack. Actually even in an equilibrium environment, we cannot assume that individual units are stationary on the stack. This is important because, as shown in section 3.2.10, the financial carry costs of the asset are derived from the current asset value, not any other value such as purchase, conservative book value depreciated, or other. The arrival of new assets and in particular the movement of the whole technology frontier changes the value of the assets.1

Suggested Citation

  • Chris Harris, 2014. "The Treatment of Change," Palgrave Macmillan Books, in: Fixed and Variable Costs, chapter 0, pages 179-196, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37089-1_5
    DOI: 10.1057/9781137370891_5
    as

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