Robert Phillips

A model of technology selection by cost minimizing producers

Coauthor(s): Dean Boyd, Stephan Regulinski. View Publication

Abstract:
A set of microeconomic assumptions are presented that lead to a model of the technology choices made by producers of a homogeneous 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.

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