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Efficient mechanisms for access to storage when competition in gas markets is imperfect
Cavaliere, Alberto; Giust, Valentina; Maggi, Mario - In: Energy Economics 36 (2013) C, pp. 481-490
storage auctions. Finally, we consider the allocation of storage that arises from welfare maximization by a benevolent social … liberalized gas markets. Storage auctions deviate from the optimal mechanism, but still afford greater efficiency than do rules …
Persistent link: https://www.econbiz.de/10011039602
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A dynamic auction for multi-object procurement under a hard budget constraint
Ensthaler, Ludwig; Giebe, Thomas - In: Research Policy 43 (2014) 1, pp. 179-189
’ financial constraints are private information. The literature has recommended the use of auctions in order to reduce information …
Persistent link: https://www.econbiz.de/10010729634
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Licensing process innovations when losersʼ messages determine royalty rates
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - In: Games and Economic Behavior 82 (2013) C, pp. 388-402
We consider a licensing mechanism for process innovations that awards a limited number of unrestricted licenses to those firms that report the highest cost reductions, combined with royalty licenses to others. Firmsʼ messages are dual signals of their cost reductions: the message of those who...
Persistent link: https://www.econbiz.de/10011049835
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Why every Economist should Learn some Auction Theory
Klemperer, Paul - C.E.P.R. Discussion Papers - 2000
economic settings that do not, at first sight, look like auctions. We also discuss some more obvious applications, especially …
Persistent link: https://www.econbiz.de/10005792157
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Battles Among Licensed Occupations: Analyzing Government Regulations on Labor Market Outcomes for Dentists and Hygienists
Kleiner, Morris M.; Park, Kyoung Won - National Bureau of Economic Research (NBER) - 2010
Occupational licensing is among the fastest-growing labor market institutions in the U.S. economy. One of the key features of occupational licensing is that the law determines who gets to do the work. In those cases where universally licensed occupations are both complements to and substitutes...
Persistent link: https://www.econbiz.de/10008727871
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The Allocative Cost of Price Ceilings: Lessons to be Learned from the US Residential Market for Natural Gas
Davis, Lucas W; Kilian, Lutz - C.E.P.R. Discussion Papers - 2007
Following a Supreme Court decision in 1954, natural gas markets in the U.S. were subject to 35 years of intensive federal regulation. Several studies have measured the deadweight loss from the price ceilings that were imposed during this period. This paper concentrates on an additional component...
Persistent link: https://www.econbiz.de/10005791833
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The Allocative Cost of Price Ceilings in the U.S. Residential Market for Natural Gas
Kilian, Lutz; Davis, Lucas W. - National Bureau of Economic Research (NBER) - 2008
A direct consequence of imposing a ceiling on the price of a good for which secondary markets do not exist, is that, when there is excess demand, the good will not be allocated to the buyers who value it the most. The resulting allocative cost has been discussed in the literature as a...
Persistent link: https://www.econbiz.de/10005778427
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Doctors without Borders: The Returns to an Occupational License for Soviet Immigrant Physicians in Israel
Kugler, Adriana D.; Sauer, Robert M - C.E.P.R. Discussion Papers - 2003
Re-licensing requirements for professionals that move across borders are widespread. In this Paper, we measure the returns to an occupational license using novel data on Soviet trained physicians that immigrated to Israel. An immigrant re-training assignment rule used by the Israel Ministry of...
Persistent link: https://www.econbiz.de/10005136637
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Auctions vs Negotiations in Public Procurement: Which Works Better?
Lalive, Rafael; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2011
Public agencies rely on two key modes to procure goods and services: auctions and direct negotiations. The relative … passenger railway services in Germany, where regional agencies can use auctions and negotiations to procure regional passenger … auctions. This analysis suggests accounting for the endogeneity of the choice of procurement mode by estimating the mode of …
Persistent link: https://www.econbiz.de/10009275960
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Ontario's auction market for financial transmission rights : an analysis of its efficiency
Olmstead, Derek E. H. - In: The energy journal 39 (2018) 1, pp. 235-251
Persistent link: https://www.econbiz.de/10011825375