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Optimal storage under uncertainty: investigating the implications of frugality and prudence.

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dc.contributor.authorDurmaz, Tunc
dc.date.accessioned2026-06-27T14:06:23Z
dc.date.issued2017
dc.description.abstractI investigate the effects of a convex marginal cost (frugality) and a convex marginal utility (prudence) on energy storage using a simple theoretical model. By characterizing the optimum, I show that prudence and frugality spur precautionary energy storage, and explain the implications of the results for a competitive market equilibrium. The analysis can be of significance for storage decisions in various industries where firms are exposed to production risks. Thus, its scope of application is not limited to the energy markets.en
dc.description.sponsorshipCenter for Sustainable Energy Studies (CenSES)
dc.identifier.endpage1629
dc.identifier.issn1545-2921
dc.identifier.issue3
dc.identifier.startpage1624
dc.identifier.urihttps://hdl.handle.net/20.500.14981/57071
dc.identifier.volume37
dc.identifier.wos000416765800021
dc.language.isoeng
dc.publisherECONOMICS BULLETIN
dc.relation.ispartofECONOMICS BULLETIN
dc.subjectBusiness & Economics
dc.titleOptimal storage under uncertainty: investigating the implications of frugality and prudence.
dc.typeArticle
dspace.entity.typePublication
local.import.sourceWOS

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