On the Performance of the United States Nuclear Power Sector: A Bayesian Approach

32 Pages Posted: 17 May 2022

See all articles by David Bernstein

David Bernstein

University of Miami

Christopher Parmeter

University of Miami

Mike Tsionas

Lancaster University

Abstract

In this paper we pursue a novel application of Bayesian empirical likelihood methods to estimate the canonical stochastic frontier model. We utilize this new framework to study technical efficiency, scale economies and technological change in the United States nuclear energy generation sector. We find decreasing scale economies, a fact consistent with the recent decline of the industry. Our results suggest that micro nuclear reactors may benefit the sector as a whole.

Keywords: Nuclear energy, Returns to Scale, Exponential Tilting, Asymmetric Laplace, Empirical Likelihood

Suggested Citation

Bernstein, David and Parmeter, Christopher and Tsionas, Efthymios G., On the Performance of the United States Nuclear Power Sector: A Bayesian Approach. Available at SSRN: https://ssrn.com/abstract=4111946 or http://dx.doi.org/10.2139/ssrn.4111946

David Bernstein

University of Miami ( email )

P.O. Box 248126
Coral Gables, FL 33124-6550
United States

Christopher Parmeter (Contact Author)

University of Miami ( email )

Coral Gables, FL 33124
United States

Efthymios G. Tsionas

Lancaster University ( email )

Lancaster LA1 4YX
United Kingdom

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