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dc.contributor.authorKalkuhl, Matthiasen_US
dc.contributor.authorEdenhofer, Ottmaren_US
dc.contributor.authorLessmann, Kaien_US
dc.date.accessioned2011-05-26en_US
dc.date.accessioned2011-06-29T11:18:09Z-
dc.date.available2011-06-29T11:18:09Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/46393-
dc.description.abstractWe investigate conditions that aggravate market failures in energy innovations, and suggest optimal policy instruments to address them. Using an intertemporal general equilibrium model we show that 'small' market imperfections may trigger a several decades lasting dominance of an incumbent energy technology over a dynamically more efficient competitor, given that the technologies are very good substitutes. Such a 'lock-in' into an inferior technology causes significantly higher welfare losses than market failure alone, notably under ambitious mitigation targets. More than other innovative industries, energy markets are prone to these lock-ins because electricity from different technologies is an almost perfect substitute. To guide government intervention, we compare welfare-maximizing technology policies in addition to carbon pricing with regard to their efficiency, effectivity, and robustness. Technology quotas and feed-in-tariffs turn out to be only insignificantly less efficient than first-best subsidies and seem to be more robust against small perturbations.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Energy and Climate Economics 3422en_US
dc.subject.jelO38en_US
dc.subject.jelQ40en_US
dc.subject.jelQ54en_US
dc.subject.jelQ55en_US
dc.subject.ddc330en_US
dc.subject.keywordrenewable energy subsidyen_US
dc.subject.keywordrenewable portfolio standarden_US
dc.subject.keywordfeed-in-tariffsen_US
dc.subject.keywordcarbon pricingen_US
dc.subject.stwFörderung regenerativer Energienen_US
dc.subject.stwForschungs- und Technologiepolitiken_US
dc.subject.stwEnergietechniken_US
dc.subject.stwKlimaschutzen_US
dc.subject.stwTechnologiewahlen_US
dc.subject.stwÖkosteueren_US
dc.subject.stwEnergiesubstitutionen_US
dc.subject.stwSubventionen_US
dc.subject.stwPolicy-Mixen_US
dc.subject.stwTheorieen_US
dc.titleLearning or lock-in: Optimal technology policies to support mitigationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn660703491en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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