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	Provedor de dados AgEcon (2) Autor Babcock, Bruce A. (2) Hennessy, David A. (2) Miao, Ruiqing (2) Palavra-chave Cellulosic biofuels (2) Investment (2) Resource /Energy Economics and Policy (2) Risk and Uncertainty (2) Waivable mandate (2) Crop Production/Industries (1) Industrial Organization (1) Renewable Identification Numbers (1) Renewable identification numbers (1) Mais... Tipo do documento Conference Paper or Presentation (1) Working or Discussion Paper (1) Ano 2010 (2) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Investment in Cellulosic Biofuel Refineries: Do Renewable Identification Numbers Matter? AgEcon Miao, Ruiqing; Hennessy, David A.; Babcock, Bruce A.. A floor and trade policy in Renewable Identification Numbers (RINs) is the market mechanism by which U.S. biofuel consumption mandates are met. A conceptual model is developed to study the impact of RINs on stimulating investment in cellulosic biofuel refineries. In a two-period framework, we compare the first-period investment level (FIL) in three scenarios: (1) laissez-faire, (2) RINs under a nonwaivable mandate (NWM) policy, and (3) RINs under a waivable mandate (WM) policy. Results show that when firm-level marginal costs are constants, then RINs under WM policy do not stimulate FIL but they do increase the expected profit of more efficient investors. When firm-level marginal costs are not constants, however, RINs under WM policy stimulate FIL. RINs... Tipo: Working or Discussion Paper Palavras-chave: Cellulosic biofuels; Investment; Renewable Identification Numbers; Waivable mandate; Crop Production/Industries; Resource /Energy Economics and Policy; Risk and Uncertainty. Ano: 2010 URL: http://purl.umn.edu/94001 Investment in Cellulosic Biofuel Refineries: Does the Waivable Mandate Matter? AgEcon Miao, Ruiqing; Babcock, Bruce A.; Hennessy, David A.. Renewable Fuel Standard (RFS) aims to support investment in cellulosic biofuel refineries by mandating a floor on the amount of biofuels being consumed in every calendar year. Tradable Renewable Identification Numbers (RINs) is the market mechanism by which the mandates are to be met. But the RFS allows for a waiver of the mandates. In this paper we construct a conceptual model to study the impact of RINs on stimulating investment in cellulosic biofuel refineries under a waivable mandate. In a two-period framework, we compare the first-period investment level in three scenarios: (1) laissez-faire, (2) non-waivable mandate implemented through RINs, and (3) waivable mandate implemented through RINs. We find that RINs associated with a waivable mandate may or... Tipo: Conference Paper or Presentation Palavras-chave: Cellulosic biofuels; Renewable identification numbers; Waivable mandate; Investment; Industrial Organization; Resource /Energy Economics and Policy; Risk and Uncertainty. Ano: 2010 URL: http://purl.umn.edu/61165 Registros recuperados: 2 Primeira ... 1 ... Última

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