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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
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  "authorName": "Grantham Research Institute",
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      "text": "To distinguish these infra-marginal projects from the rest, we refer to them as blatantly infra-marginal projects, or BLIMPs for short.",
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      "text": "While infra-marginality is unobservable, being a BLIMP is fundamentally observable... An application of the definition of a BLIMP is likely to identify only a subset of infra-marginal projects, even when a researcher or regulator is in possession of a complete list of projects.",
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      "text": "2. x_m <= x_n for each variable in x (where, for convenience, the variables in x are ordered so that higher values produce larger values of V), and\n3. x_m = x_n for each variable not in x.",
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      "text": "This conceptual approach imposes very mild conditions on the payoff function... We now turn our attention to operationalizing the concept of a BLIMP in the context of wind power generation.",
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      "text": "If a project m exists that satisfies the first condition, it must be true that the value of V was large enough to justify entry even in the absence of the subsidy... To distinguish these infra-marginal projects from the rest, we refer to them as blatantly infra-marginal projects, or BLIMPs for short.",
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      "text": "In this section we map the preceding framework onto India's wind power sector to develop an operational definition of a BLIMP in this context. We will discuss the functional form of the payoff function and how we measure the variables that enter into it.",
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      "text": "If our list of projects is incomplete, the measure only becomes more conservative... Any projects that we do not observe will tend to reduce the number of BLIMPs.",
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      "text": "4 BLIMPs in India's Wind Power Sector",
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