Net energy analysis in a Ramsey–Hotelling growth model

Net energy analysis in a Ramsey–Hotelling growth model This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). In our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), establishing the economic use of “net energy analysis” on a firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Energy Policy Elsevier

Net energy analysis in a Ramsey–Hotelling growth model

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Publisher
Elsevier
Copyright
Copyright © 2015 Elsevier Ltd
ISSN
0301-4215
D.O.I.
10.1016/j.enpol.2015.07.028
Publisher site
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Abstract

This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). In our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), establishing the economic use of “net energy analysis” on a firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented.

Journal

Energy PolicyElsevier

Published: Nov 1, 2015

References

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    Hong, Li
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    Kenny, R.; Law, C.; Pearce, J.M.
  • Meta-analysis of net energy return for wind power systems
    Kubiszewski, I.; Cleveland, C.J.; Endres, P.K.
  • Energy Basis for Man and Nature
    Odum, H.T.; Odum, E.C.
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    Odum, H.T.
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    Shinkuma, T.; Nishiyama, T.
  • Limits to substitution and irreversibility in production and consumption: a neoclassical interpretation of ecological economics
    Stern, D.I.

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