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dc.contributor.authorChaton, Corinne
dc.contributor.authorCreti, Anna
dc.contributor.authorVilleneuve, Bertrand
HAL ID: 745441
ORCID: 0000-0001-7485-9262
dc.date.accessioned2010-11-30T08:59:43Z
dc.date.available2010-11-30T08:59:43Z
dc.date.issued2009
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/5204
dc.language.isoenen
dc.subjectGas industryen
dc.subjectStorageen
dc.subjectDynamic modelsen
dc.subject.ddc333en
dc.subject.classificationjelI12en
dc.titleStorage and security of supply in the medium runen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThis paper analyzes the role of private storage in a market for a commodity (e.g. natural gas) whose supply is subject to the threat of an irreversible disruption. We focus on the medium term in which seasonality of demand and exhaustibility can be neglected. We characterize the price and inventory dynamics (accumulation, drainage and limit stocks) in a competitive equilibrium with rational expectations. We show the robustness of our results to alternative scenarios in which either a disruption has finite duration or the crisis is foreseen. During the crisis consumers may put pressure on the Government to intervene, but too severe antispeculative measures would inefficiently discourage storage. Practical solutions to this dilemma cause welfare losses that we characterize and quantify.en
dc.relation.isversionofjnlnameResource and Energy Economics
dc.relation.isversionofjnlvol31en
dc.relation.isversionofjnlissue1en
dc.relation.isversionofjnldate2009
dc.relation.isversionofjnlpages24-38en
dc.relation.isversionofdoihttp://dx.doi.org/10.1016/j.reseneeco.2008.10.004en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie de la terre et des ressources naturellesen


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