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WP2008-01-08,EMK,DD_ENEM

WP2008-01-08,EMK,DD_ENEM - The Economics of Nuclear Energy...

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The Economics of Nuclear Energy Markets and the Future of International Security Erwann O. Michel-Kerjan The Wharton School, University of Pennsylvania [email protected] Debra K. Decker Kennedy School of Government, Harvard University [email protected] Revised: January 2008 Working Paper # 2008-01-08 Contact information: Erwann O. Michel-Kerjan OPIM Dept., The Wharton School Managing Director, Wharton Risk Management and Decision Processes Center University of Pennsylvania Jon Huntsman Hall, 5th Floor, Room 556 3730 Walnut Street, Philadelphia, PA 19104 Voice: 215-573-0515 Email: [email protected] _____________________________________________________________________ Risk Management and Decision Processes Center The Wharton School, University of Pennsylvania http://opim.wharton.upenn.edu/risk/ ___________________________________________________________________________
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CITATION AND REPRODUCTION This document appears as Working Paper of the Wharton Risk Management and Decision Processes Center, The Wharton School of the University of Pennsylvania. Comments are welcome and may be directed to the authors. This paper may be cited as: Erwann O. Michel Kerjan and Debra K. Decker, “ The Economics of Nuclear Energy Markets and the Future of International Security,” Risk Management and Decision Processes Center, The Wharton School of the University of Pennsylvania, January 2008. The views expressed in this paper are those of the author and publication does not imply their endorsement by the Wharton Risk Center and the University of Pennsylvania. This paper may be reproduced for personal and classroom use. Any other reproduction is not permitted without written permission of the authors. T HE W HARTON R ISK M ANAGEMENT AND D ECISION P ROCESSES C ENTER Since its creation 24 years ago, the mission of the Wharton Risk Management and Decision Processes Center has been to carry out a program of basic and applied research to promote effective corporate and public policies for low probability events with potentially catastrophic consequences. The Risk Center has focused on natural and technological hazards through the integration of risk assessment, risk perception and risk financing with risk management strategies. After 9/11, research activities extended also to national and international security issues (e.g., terrorism risk insurance markets, protection of critical infrastructure, global security). Building on the disciplines of economics, decision sciences, finance, insurance, marketing and psychology, the Center's research program has been oriented around descriptive and prescriptive analyses. Descriptive research focuses on how individuals and organizations interact and make decisions regarding the management of risk under existing institutional arrangements. Prescriptive analyses propose ways that individuals and organizations, both private and governmental, can make better decisions regarding risk. The Center supports and undertakes field and experimental studies of risk and uncertainty to better understand the linkage between descriptive and prescriptive approaches under various regulatory and market conditions. Risk Center research investigates the effectiveness of
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