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Perpetual Leapfrogging in Bertrand Duopoly

Giovannetti, E. - Faculty of Economics, University of Cambridge - 2000

We consider different patterns of infinite technological adoption choices by firms in a Bertran duopoly. Every period, technological progress provides a sequence of cost reducing innovations. The equilibrium concept is Markov Perfect Equilibrium. We analyse conditions for which equilibrium...

Persistent link: https://www.econbiz.de/10005489337

The roubstness of agent-based models of electricity wholesale markets

Newberry, D. - Faculty of Economics, University of Cambridge - 2012

Agent-based modelling is an attractive way of finding equilibria in complex problems involving strategic behaviour, particularly in electricity markets with transmission constraints. However, while it may be possible to demonstrate convergence of learning behaviour to a Nash equilibrium, that is...

Persistent link: https://www.econbiz.de/10010699802

The Electricity Contract Market.

Green, R. - Faculty of Economics, University of Cambridge - 1996

In England and Wales, wholesale electricity is sold in a spot market partly covered by long-term contracts which hedge the spot price. Two dominant conventional generators can raise spot prices to undesirable levels, which is profitable in the absence of contracts. If fully hedged, however, the...

Persistent link: https://www.econbiz.de/10005783808

The Principle of Moderate Differentiation

Sallstrom Matthews, S.E. - Faculty of Economics, University of Cambridge - 2007

What would happen if firms could collusively choose cost of transport (inconvenience) in Hotelling's spatial model? This paper endogenises inconvenience in a three stage game, where firms choose locations, the inconvenience, and finally compete in price, on the assumption of a common reservation...

Persistent link: https://www.econbiz.de/10005783768

From State Factory, to Modern Corporation? China's Shougang Iron and Steel Corporation Under Economic Reform.

Nolan, P. - Faculty of Economics, University of Cambridge - 1996

The main body of the paper analyses the reasons and the nature of Corporation's remarkable growth during the economic reform years since the late 1970s in China.

Persistent link: https://www.econbiz.de/10005207819

Is Google the next Microsoft? Competition, Welfare and Regulation in Internet Search

Pollock, R. - Faculty of Economics, University of Cambridge - 2009

The rapid growth of online search and its centrality to the ecology of the Internet raise many questions for economists … to answer: Why is the search engine market so concentrated and will it evolve towards monopoly? What implications does … this concentration have for consumers, search engines, and advertisers? Does search require regulation and if so in what …

Persistent link: https://www.econbiz.de/10005256256

Platform Markets and Energy Services

Weiller, Claire M.; Pollitt, Michael G. - Faculty of Economics, University of Cambridge - 2013

A structural shift from transaction-based, marginal cost pricing to fee-based service business models often accompanies We emergence of “platform” markets, i.e. multi-sided markets where an intermediary captures the value of the interaction between user groups. The many examples include...

Persistent link: https://www.econbiz.de/10010790538

Global Influences on UK Manufacturing Prices

Coutts, K.; Norman, N.R. - Faculty of Economics, University of Cambridge - 2001

This paper presents substantial new evidence on the competitive process that links together industrial economic and international economics. Our time-series data base concerns manufactured product prices and their domestic and international determinants. We identity cointegrating relationships,...

Persistent link: https://www.econbiz.de/10005783719

Welfare Impacts of Electricity Generation Sector Reform in the Philippines

Toba, N. - Faculty of Economics, University of Cambridge - 2003

This paper reports an empirical investigation into the welfare impacts of an introduction of private sector participation into the Philippines electricity generation sector, by liberalizing the market for independent power producers (IPPs) during the power crisis of 1990-1993. This study uses a...

Persistent link: https://www.econbiz.de/10005783728

Impact of the allowance allocation on prices and efficiency

Neuhoff, K.; Grubb, M.; Keats, K. - Faculty of Economics, University of Cambridge - 2005

Successful cap and trade programs for SO2 and NOx in the US allocate allowances to large emitters based on a historic base line for a period of up to thirty years. National Allocation Plans in Europe allocate CO2 allowances in an iterative approach first for a three then for a five-year period....

Persistent link: https://www.econbiz.de/10005783835