Research and development of a backstop energy technology in a growing economy

D. F. Spulber*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

7 Scopus citations

Abstract

The sequential search for a backstop energy technology is examined using an optimal growth model with an exhaustible energy resource. It is assumed that an economic planner periodically reviews the outcomes of a stochastic R&D process. A stopping rule for R&D is obtained in terms of a minimum acceptable quality level for the innovation. The dependence of the quality standard upon capital and natural resource stocks and on the state of basic research is analysed.

Original languageEnglish (US)
Pages (from-to)199-207
Number of pages9
JournalEnergy Economics
Volume2
Issue number4
DOIs
StatePublished - 1980

ASJC Scopus subject areas

  • Economics and Econometrics
  • Energy(all)

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