Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.08.026 |
Biodiesel investment in a disruptive tax-credit policy environment | |
Liu, Shen1; Colson, Gregory1; Wetzstein, Michael2 | |
2018-12-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 123页码:19-30 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | An investigation of Poisson type policy jumps on biodiesel investment considers the theory of investment under uncertainty. The analysis studies the probability of implementing a policy if it is not in effect and the probability of withdrawal if it is in effect. An application models the policy-switching regime of the discontinuous U.S. federal tax credit of $1.00 per gallon on biodiesel. Results support that time inconsistent government policies do lead to market uncertainty. The analysis reveals a pronounced negative impact on decisions to invest in a biodiesel refinery. Results do indicate a consistent policy-switching regime may not be that disruptive to the emerging biodiesel industry. It is policy uncertainty that drives the option-pricing thresholds and a consistent policy switching does not increase the uncertainty. |
英文关键词 | Biodiesel investment Disruptive biodiesel policy Poisson policy jumps Real options |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000453499700003 |
WOS关键词 | REAL-OPTIONS ; ELECTRICITY-GENERATION ; TECHNOLOGY ADOPTION ; ENERGY-POLICY ; UNCERTAINTY ; MODEL |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/17877 |
专题 | 气候变化 |
作者单位 | 1.Univ Georgia, Dept Agr & Appl Econ, Athens, GA 30602 USA; 2.Purdue Univ, Dept Agr Econ, W Lafayette, IN 47907 USA |
推荐引用方式 GB/T 7714 | Liu, Shen,Colson, Gregory,Wetzstein, Michael. Biodiesel investment in a disruptive tax-credit policy environment[J]. ENERGY POLICY,2018,123:19-30. |
APA | Liu, Shen,Colson, Gregory,&Wetzstein, Michael.(2018).Biodiesel investment in a disruptive tax-credit policy environment.ENERGY POLICY,123,19-30. |
MLA | Liu, Shen,et al."Biodiesel investment in a disruptive tax-credit policy environment".ENERGY POLICY 123(2018):19-30. |
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