A Practitioner's Perspective on Modeling Prices and Trade in a Globalizing Natural Gas Market

Robert D. Stibolt

The Energy Journal, 2009, vol. Volume 30, issue Special Issue, 9-20

Abstract: This paper advances some principles for practical application of natural gas models that were used during the EMF 23 study. These principles emphasize a decision-focused perspective, embrace uncertainty, demand consistency of model results with observable facts, are capable of navigating the complexity of systems, and distinguish insight from unattainable precision. The principles are designed to foster the assistance of better decision making by models and modelers.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 2009
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