A Risk Economic Approach to Nuclear Power Generation:From Daniel Bernoulli to Keynes and Knight

Yasuhiro Sakai ()
Additional contact information
Yasuhiro Sakai: Faculty of Economics, Shiga University

Discussion Papers CRR Discussion Paper Series A: General from Shiga University, Faculty of Economics,Center for Risk Research

Abstract: This paper aims to discuss the problem of nuclear power generation from the viewpoint of the economics of risk and uncertainty. Although we have experienced the two major nuclear disasters, Chernobyl and Fukushima, in recent times, it is quite unfortunate that risk-economic studies in nuclear power generation have been extremely rare so far. This may show intentional neglect in the academic circle. The purpose of this paper is to duly mend such a regrettable tendency. Before 11 March 2011, there were many people who more or less believed in the myth of absolute safety. The Great East Japan Earthquake, however, has completely changed their concept of risk for nuclear power generation, thus requiring the need to take a new risk-economic approach to nuclear energy. As saying goes, we can learn new lessons in old teachings: we have to reexamine the economics of J.M. Keynes and Frank Knight. There are many possibilities for future research.

Keywords: Risk; uncertainty; nuclear power generation; Keynes; Knight (search for similar items in EconPapers)
Pages: 26 pages
Date: 2017-02
New Economics Papers: this item is included in nep-ene, nep-hpe, nep-pke, nep-rmg and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econ.shiga-u.ac.jp/risk/DPA23Sakai20170217.pdf First version, 2017 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:shg:dpapea:23

Access Statistics for this paper

More papers in Discussion Papers CRR Discussion Paper Series A: General from Shiga University, Faculty of Economics,Center for Risk Research Contact information at EDIRC.
Bibliographic data for series maintained by Mari Yamasaki ().