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Sensitivity of energy system investments to policy regulation changes: Application of the blue sky catastrophe

Bondarev, Anton and Weigt, Hannes. (2017) Sensitivity of energy system investments to policy regulation changes: Application of the blue sky catastrophe. WWZ Working Papers, 2017 (08).

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Official URL: https://edoc.unibas.ch/61309/

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Abstract

In this paper we argue, that the interaction of technology and economic policy regulations in the energy sector may be described by the so-called slow-fast class of dynamical systems. It is known that such systems may exhibit the blue sky catastrophe, a special type of bifurcation. Application of this result allows us to argue that caution is needed when updating economic policies in the energy sector to avoid the onset of catastrophic developments in the system's transformation, when energy system dynamics becomes unresponsive to policy updates.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Energieökonomik (Weigt)
06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Umweltökonomie (Krysiak)
12 Special Collections > WWZ Publications > WWZ Discussion Papers and Working Papers
UniBasel Contributors:Weigt, Hannes and Bondarev, Anton A.
Item Type:Working Paper
Publisher:WWZ, University of Basel
Number of Pages:23
Note:Publication type according to Uni Basel Research Database: Discussion paper / Internet publication
Language:English
Identification Number:
  • handle: RePEc:bsl:wpaper:2017/08
Last Modified:07 Mar 2018 12:56
Deposited On:07 Mar 2018 12:56

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