Browsing Center for Energy and Environmental Policy Research by Title
Now showing items 178-197 of 334
-
A market-based environmental policy experiment in Chile
(MIT Center for Energy and Environmental Policy Research, 2000)Despite growing interest in the use of emissions trading for pollution control, empirical evidence for this regulatory instrument has been confined to a few experiences in the United States. This paper broadens the empirical ... -
Markets for power in the United States : an interim assessment
(MIT Center for Energy and Environmental Policy Research, 2005)The transition to competitive wholesale and retail markets for electricity in the U.S. has been a difficult and contentious process. This paper examines the progress that has been made in the evolution of wholesale and ... -
A markup interpretation of optimal rules for irreversible investment
(MIT Center for Energy and Environmental Policy Research, 1997)We re-examine the basic investment problem of deciding when to incur a sunk cost to obtain a stochastically fluctuating benefit. The optimal investment rule satisfies a trade-off between a larger versus a later net benefit; ... -
Measuring the degree of economic opening in the German electricity market
(MIT Center for Energy and Environmental Policy Research, 2004) -
Merchant transmission investment
(MIT Center for Energy and Environmental Policy Research, 2003)We examine the performance attributes of a merchant transmission investment framework that relies on "market driven" transmission investment to provide the infrastructure to support competitive wholesale markets for ... -
Micro economics for demand-side management
(MIT Center for Energy and Environmental Policy Research, 1991)This paper aims to interpret Demand-Side Management (DSM) activity and to point out its problems, adopting microeconomics as an analytical tool. Two major findings follow. first, the cost-benefit analysis currently in use ... -
Modeling the Impact of Warming in Climate Change Economics
(MIT Center for Energy and Environmental Policy Research, 2010-01)Any economic analysis of climate change policy requires some model that describes the impact of warming on future GDP and consumption. Most integrated assessment models (IAMs) relate temperature to the level of real GDP ... -
Modelling the Effects of Nuclear Fuel Reservoir Operation in a Competitive Electricity Market
(MIT Center for Energy and Environmental Policy Research, 2010-07)In many countries, the electricity systems are quitting the vertically integrated monopoly organization for an operation framed by competitive markets. In such a competitive regime one can ask what the optimal management ... -
Multi-Factor Model of Correlated Commodity - Forward Curves for Crude Oil and Shipping Markets
(MIT Center for Energy and Environmental Policy Research, 2009)An arbitrage free multi-factor model is developed of the correlated forward curves of the crude oil, gasoline, heating oil and tanker shipping markets. Futures contracts trading on public exchanges are used as the primary ... -
Multipollutant markets
(MIT Center for Energy and Environmental Policy Research, 2001)I study the optimal design of marketable permit systems to regulate various pollutants (e.g. air pollution in urban areas) when the regulator lives in a real world of imperfect information and incomplete enforcement. I ... -
Natural gas pricing in the Northeastern U.S.
(MIT Center for Energy and Environmental Policy Research, 1998)This paper examines natural gas pricing at five citygate locations in the northeastern United States using daily and weekly price series for the years 1994-97. In particular, the effects of the natural gas price at Henry ... -
New entrant and closure provisions : how do they distort?
(MIT Center for Energy and Environmental Policy Research, 2006)As a person whose life began in England and ended in North America and who maintained academic affiliations in the United Kingdom, Canada and the U.S., Campbell Watkins had a fine appreciation for the subtle differences ... -
A new era for oil prices
(MIT Center for Energy and Environmental Policy Research, 2006)Since 2003 the international oil market has been moving away from the previous 20-year equilibrium in which prices fluctuated around $25/bbl (in today's dollars). The single most important reason is that growing demand has ... -
The new option view of investment
(MIT Center for Energy and Environmental Policy Research, 1995)This paper provides a simple introduction to the new option view of investment. We explain the shortcomings of the orthodox theory, and then outline the basic ideas behind the option framework. Several industry examples ... -
Nonparametric estimation of exact consumers surplus and deadweight loss
(MIT Center for Energy and Environmental Policy Research, 1993)We apply nonparametric regression models to estimation of demand curves of the type most often used in applied research. From the demand curve estimators we derive estimates of exact consumers surplus and deadweight loss, ... -
Nordic electricity congestion's arrangement as a model for Europe : physical constraints or operators' opportunism?
(MIT Center for Energy and Environmental Policy Research, 2002)Congestion on power grids seems a physical reality, a "hard" fact easy to check. Our paper models a different idea: congestion signal may be distorted by transmission system operators (TSOs), which puts the European ... -
North Sea reserve appreciation, production, and depletion
(MIT Center for Energy and Environmental Policy Research, 1999)Oil field "growth" has become a well-recognized phenomenon in mature, well-explored provinces such as the United States leading to the continual under-estimation in oil production forecasts. This working paper explores the ... -
A note on competitive investment under uncertainty
(MIT Center for Energy and Environmental Policy Research, 1991)This paper clarifies how uncertainty affects irreversible investment in a competitive market equilibrium. With free entry, irreversibility affects the distribution of future prices, and thereby creates an opportunity cost ... -
A note on market power in an emission permits market with banking
(MIT Center for Energy and Environmental Policy Research, 2004)In this paper, we investigate the effect of market power on the equilibrium path of an emission permits market in which firms can bank current permits for use in later periods. In particular, we study the market equilibrium ... -
Nuclear Fuel Recycling - the Value of the Separated Transuranics and the Levelized Cost of Electricity
(MIT Center for Energy and Environmental Policy Research, 2009-09)We analyze the levelized cost of electricity (LCOE) for three different fuel cycles: a Once-Through Cycle, in which the spent fuel is sent for disposal after one use in a reactor, a Twice-Through Cycle, in which the spent ...
