A Model of Technology Selection by Cost Minimizing Producers

D.W. Boyd, Robert L. Phillips, S.G. Regulinski

Management Science · 1982 · 23 citations · 5 references

Concepts

Abstract

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

References

5