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A Simple Model of Technologv Choice
Lock ln ln Nuclear Power Reactors
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Atomic benefits better built Bupp and Derian Canada Candu reactor central authority central control chapter civilian power commercial competing technologies conjecture constant returns regime coolant cost discount distribution dynamic early economic electricity enriched uranium estimates Euratom expected value factor fast breeder reactors favour finite FlGURE gas graphite reactor gas graphite technology Gittins lndex heavy water reactor high temperature gas increasing returns function inferior technology iso-index line learning curve light water reactor light water technology ln this figure lndeed Magnox mills/kwh multi-armed bandit Navy network externalities nuclear power reactor nuclear programme nuclear reactor technology nuclear reactors operating optimal policy period positive probability problem production proportion locking prototype reactor market reactor technology reactor types research and development Rickover SGHWR Shippingport simulation single technology stopping rule submarine switch technology choice Theorem uranium reactors utility Westinghouse wrong technology