In 1987 Lopes developed Security/Potential, Aspiration (SP/A) Theory, a framework for risky choice under uncertainty. Similar to Prospect Theory, SP/A Theory seeks to combine the forces of Economics and Psychology. This means that the assumption that individuals make choices based on expected...

In dieser Arbeit setzen wir uns mit den Auswirkungen von Risikobeschränkungen auf das optimale Verhalten eines Investors auseinander, welcher versucht, den erwarteten Endnutzen zu einem festgelegten Zeitpunkt zu maximieren. Dazu kann er ein vorgegebenes Anfangsvermögen in einem Markt...

Battelle, Pacific Northwest Laboratory (PNL) is conducting a program to help assess impacts of energy-related developments through the year 2025 in six northwestern states--Washington, Oregon, Idaho, Montana, Wyoming and Alaska. ELSA (Electric Power Supply Analysis Model), one component of this...

The analysis and modeling of investment behavior in the development of hydrothermal electric power facilities are reported. This investment behavior reflects a degree of sensitivity to public policy alternatives concerning taxation and regulation of the resource and its related energy conversion...

The only way resources can be efficiently allocated in our market system is if prices of resources, goods, and services properly reflect their true value to society. However, because of (a) imperfections in the pricing mechanisms that currently influence private-sector decision making; (b) the...

In this paper, I offer some thoughts about least cost planning, not from the perspective of the regulator or utility, but from the perspective of a residential customer. The problem that I address is, as a homeowner in northern Virginia, I am about to make a long term fuel choice for my...

The economy is fundamentally sound but inhibiting factors have contributed to a substandard recovery. While sustained strong productivity gains have lifted profits and real wages, consumer spending has grown only modestly, businesses are maintaining low inventories and have been hesitant to...

Una vez superada la etapa más aguda de la crisis del Covid-19, que ha supuesto una respuesta inmediata y contundente de la política económica, el gobernador plantea las medidas económicas prioritarias en la fase siguiente a la hibernación y la puesta en marcha, de manera urgente, de una...