The Treatment of Change

Chris Harris

Chapter Chapter 5 in Fixed and Variable Costs, 2014, pp 179-196 from Palgrave Macmillan

Abstract: Abstract In much modeling of power systems, we assume a load variation that is steady state (cycling in a deterministic way) or at least stationary (stochastic cycling with constant probability coefficients). We commonly assume a stationary stack. Actually even in an equilibrium environment, we cannot assume that individual units are stationary on the stack. This is important because, as shown in section 3.2.10, the financial carry costs of the asset are derived from the current asset value, not any other value such as purchase, conservative book value depreciated, or other. The arrival of new assets and in particular the movement of the whole technology frontier changes the value of the assets.1

Keywords: Nash Equilibrium; Variable Cost; Stackelberg Game; Technology Frontier; Residual Demand (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37089-1_5

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DOI: 10.1057/9781137370891_5

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