Economic Analysis

Argonne leads creation of definitive valuation guide for pumped storage hydropower

Argonne scientists led four other laboratories in developing definitive guidance on how to value pumped storage hydropower projects. Their efforts resulted in DOE publication of the Pumped Storage Hydropower Valuation Guidebook: A Cost-Benefit and Decision Analysis Valuation Framework. The guide provides an objective, transparent valuation methodology and helps measure both monetary and non-monetary value streams.

MAPPING COVID RISK IN URBAN AREAS: A WAY TO KEEP THE ECONOMY OPEN

As COVID-19 vaccines slowly roll out across the world, government officials in densely populated countries must still manage vulnerable communities at highest risk of an outbreak. In a new study published in the journal Risk Analysis, researchers in India propose a COVID Risk Assessment and Mapping (CRAM) framework that results in a zoned map that officials can use to place more targeted restrictions on high-risk communities. Successfully used by officials in Jaipur at the peak of the pandemic last spring, their framework could help other vulnerable countries avoid a shutdown of their regional economies.

Nobel laureate Oliver Williamson, pioneer of organizational economics, dies at 87

Oliver Williamson, a UC Berkeley and Haas School of Business professor for nearly three decades whose elegant framework for analyzing the structure of organizations won him a Nobel Prize in Economic Sciences, passed away on May 21, 2020 in Berkeley, Calif. at the age of 87. His death followed a period of failing health. Williamson’s work permanently changed how economists view organizations.