Measuring Welfare Loss Caused by Air Pollution in Europe: A CGE Analysis by Paltsev, Sergey, Reilly, John M., Selin, Noelle E., Nam, Kyung-Min

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Electricity Generation and Emissions Reduction Decisions under Policy Uncertainty: A General Equilibrium Analysis by Morris, J., Webster, M., Reilly, J.

“…It employs a novel framework that models decision-making under uncertainty with learning in an economy-wide setting that can measure social welfare impacts. Specifically, a computable general equilibrium (CGE) model of the U.S. is formulated as a two-stage stochastic dynamic program focused on decisions in the electric power sector. // In modeling decision-making under uncertainty, an optimal electricity investment hedging strategy is identified. …”
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