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| Author: | Decanio, S. Laitner, J. |
| Title: | Modeling technological change in energy demand forecasting: a generalized approach |
| Journal: | Technological Forecasting and Social Change
1997 : JUL, VOL. 55:3, p. 249-263 |
| Index terms: | TECHNOLOGICAL FORECASTING SOCIAL CHANGE DEMAND |
| Language: | eng |
| Abstract: | Conventional economic modeling of energy demand has characterized technological choice as an investment decision driven primarily by the relationship between capital costs and operating costs. Yet the implementation of this approach has tended to yield unrealistically high estimates of the implicit discount rate governing investment decisions, particularly those involving energy efficient technologies. This result arises from incomplete specification of the process of technological choice and the diffusion of innovations. |
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