Allocating the Added Value of Energy Policies
Developing an energy policy from a collection of programs is made more complicated because there is no single value that can be used as a best estimate of the contribution of a single policy, despite the ability to estimate the impact of the complete suite. In this paper we illustrate the problem an...
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Online Access: | http://dx.doi.org/10.5547/issn0195-6574-ej-vol27-no2-8 http://journals.sagepub.com/doi/pdf/10.5547/ISSN0195-6574-EJ-Vol27-No2-8 |
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crsagepubl:10.5547/issn0195-6574-ej-vol27-no2-8 2024-05-12T08:00:00+00:00 Allocating the Added Value of Energy Policies Murphy, Frederic H. Rosenthal, Edward C. 2006 http://dx.doi.org/10.5547/issn0195-6574-ej-vol27-no2-8 http://journals.sagepub.com/doi/pdf/10.5547/ISSN0195-6574-EJ-Vol27-No2-8 en eng SAGE Publications http://journals.sagepub.com/page/policies/text-and-data-mining-license The Energy Journal volume 27, issue 2, page 143-156 ISSN 0195-6574 1944-9089 General Energy Economics and Econometrics journal-article 2006 crsagepubl https://doi.org/10.5547/issn0195-6574-ej-vol27-no2-8 2024-04-18T08:34:05Z Developing an energy policy from a collection of programs is made more complicated because there is no single value that can be used as a best estimate of the contribution of a single policy, despite the ability to estimate the impact of the complete suite. In this paper we illustrate the problem and use cooperative game theory to show one way to estimate individual effects of a policy goal in the context of collective estimates. Using an economic equilibrium model, we illustrate the behavior of four policies, namely, a gasoline tax, CAFE standards, a carbon tax, and drilling the Arctic National Wildlife Reserve, through their Shapley value contributions in measuring the impact of each in the context of a suite of policies. We apply the Shapley value to measure the average marginal reduction in imports for each policy, and present a number of scenarios that illustrate how the Shapley value behaves as a measure of policy contribution. Article in Journal/Newspaper Arctic SAGE Publications Arctic The Energy Journal 27 2 143 156 |
institution |
Open Polar |
collection |
SAGE Publications |
op_collection_id |
crsagepubl |
language |
English |
topic |
General Energy Economics and Econometrics |
spellingShingle |
General Energy Economics and Econometrics Murphy, Frederic H. Rosenthal, Edward C. Allocating the Added Value of Energy Policies |
topic_facet |
General Energy Economics and Econometrics |
description |
Developing an energy policy from a collection of programs is made more complicated because there is no single value that can be used as a best estimate of the contribution of a single policy, despite the ability to estimate the impact of the complete suite. In this paper we illustrate the problem and use cooperative game theory to show one way to estimate individual effects of a policy goal in the context of collective estimates. Using an economic equilibrium model, we illustrate the behavior of four policies, namely, a gasoline tax, CAFE standards, a carbon tax, and drilling the Arctic National Wildlife Reserve, through their Shapley value contributions in measuring the impact of each in the context of a suite of policies. We apply the Shapley value to measure the average marginal reduction in imports for each policy, and present a number of scenarios that illustrate how the Shapley value behaves as a measure of policy contribution. |
format |
Article in Journal/Newspaper |
author |
Murphy, Frederic H. Rosenthal, Edward C. |
author_facet |
Murphy, Frederic H. Rosenthal, Edward C. |
author_sort |
Murphy, Frederic H. |
title |
Allocating the Added Value of Energy Policies |
title_short |
Allocating the Added Value of Energy Policies |
title_full |
Allocating the Added Value of Energy Policies |
title_fullStr |
Allocating the Added Value of Energy Policies |
title_full_unstemmed |
Allocating the Added Value of Energy Policies |
title_sort |
allocating the added value of energy policies |
publisher |
SAGE Publications |
publishDate |
2006 |
url |
http://dx.doi.org/10.5547/issn0195-6574-ej-vol27-no2-8 http://journals.sagepub.com/doi/pdf/10.5547/ISSN0195-6574-EJ-Vol27-No2-8 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
The Energy Journal volume 27, issue 2, page 143-156 ISSN 0195-6574 1944-9089 |
op_rights |
http://journals.sagepub.com/page/policies/text-and-data-mining-license |
op_doi |
https://doi.org/10.5547/issn0195-6574-ej-vol27-no2-8 |
container_title |
The Energy Journal |
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27 |
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2 |
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143 |
op_container_end_page |
156 |
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1798841660363243520 |