China’s growing demand for oil is significantly changing the international geopolitics of energy, especially in the Asian Pacific region. The recent growth in oil consumption, combined with forecasts of increased oil imports (especially from the Middle East), have led to deep concern among...

This paper analyses which likely effects international co-operation on climate change, the emissions trading directive of the European Union currently introduced and the tradable emissions permit systems specified under the UN Framework Convention on Climate Change (FCCC) will have on energy...

This paper examines the efficiency implications of regulated demand price of 93 octane petrol relative to OPEC crude oil price across 183 Namibian localities in 1991. It describes briefly pricing problems associated with managing petroleum and petro-products. Assuming that demand price depends...

Value-at-Risk (VaR) determines the probability of a portfolio of assets losing a certain amount in a given time period due to adverse market conditions with a particular level of confidence. Value-at-Risk has received considerable attention from financial economists and financial practitioners...

Multi-unit auctions are promising mechanisms for the reallocation of water. The main advantage of such auctions is to avoid the lumpy bid issue. However, there is great uncertainty about the best auction formats when multi-unit auctions are used. The theory can only supply the structural...

www.can.nl\~cool Comments: 39 pages in Word - zipped JEL: N0, Z0 EWP References: ewp-get/9604002 ewp-get/9604003 Report-no: Thomas Cool 96-05

The purpose of this paper is to model the interaction between the targets of the current CAP: environmental adaptation, subsidies and efficiency the of animal farming. To this end we first have to identify the production frontier and relative efficiency level for each animal oriented type of...

This paper addresses the issue of measuring waste due to the imposition of a production quota. our objective is to elaborate two alternative general equilibrium concepts of the welfare loss due to the imposition of a production quota, and to illustrate their use by considering costs of the U.S....