Modeling uncertainty of induced technological change

Uncertainty and Technological Change

I would like to begin with two generally accepted propositions: First, technological change is a major ingredient of long-term economic growth, and second, technological change is characterized by a high degree of uncertainty. Understanding the nature of these uncertainties and the obstacles to surmounting them is not a trivial matter. Rather, it goes to the heart of how new technologies are de...

Uncertainty and technological change in medicine.

Strategic Technology Adoption under Technological Uncertainty

Induced technological change under carbon taxes

We study changes in fossil fuel and non-fossil energy use and carbon dioxide emissions induced by carbon taxes. We develop a partial energy equilibrium model with capital and labor as production factors, and endogenous technological change through learning by doing and learning through research, distinguishing between private and public innovations. Our model reproduces the learning curves typi...

Uncertainty of Climate Change and Synoptic Parameters and modeling the trends