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Using ex post data to estimate the hurdle rate of abatement investments - an application to sulfur emissions from the Swedish pulp and paper industry and energy sector
Löfgren, Åsa; Millock, Katrin; Nauges, Céline - HAL - 2008
We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...
Persistent link: https://www.econbiz.de/10010750596
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Using Ex Post Data to Estimate the Hurdle Rate of Abatement Investments – An Application to the Swedish Pulp and Paper Industry and Energy Sector
Millock, Katrin; Nauges, Céline; Löfgren, Åsa - HAL - 2007
We propose a method for estimating hurdlerates for firms' investments in pollution abatement technology, using expost data. The method is based on a structural option value model where thefuture price of polluting fuel is the major source of uncertainty facing thefirm. The econometric procedure...
Persistent link: https://www.econbiz.de/10010750797
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The Effect of Uncertainty on Pollution Abatement Investments: Measuring Hurdle Rates for Swedish Industry
Löfgren, Åsa; Millock, Katrin; Nauges, Céline - HAL - 2008
We estimate hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The empirical procedure is illustrated using...
Persistent link: https://www.econbiz.de/10010738504
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Quasi-option value and climate policy choices
Ha-Duong, Minh - HAL - 1998
In the climate change issue, the environmental irreversibility (risk of an acceleration of mitigation policies if the worse happen) has to be balanced with the investment irreversibility (risk of over-cautious policies). To explore this balance, we define an option value for a precautionary...
Persistent link: https://www.econbiz.de/10008791475
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Investments in Quality, Collective Reputation and Information Acquisition
Fontini, Fulvio; Millock, Katrin; Moretto, Michele - HAL - 2013
In many cases consumers cannot observe firms' investment in quality or safety, but have only beliefs on the average quality of the industry. In addition, the outcome of the collective investment game of the firms may be stochastic since firms cannot control perfectly the technology or external...
Persistent link: https://www.econbiz.de/10011025757
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First degree discrimination in a competitive setting : pricing and quality choice
Encaoua, David; Hollander, Abraham - HAL - 2004
The paper investigates competition in price schedules among vertically differentiated producers. First order price discrimination leading to personalized prices are the perfect equilibrium of the two-stage game where firms choose at the first stage to commit or not to a uniform price and compete...
Persistent link: https://www.econbiz.de/10010750558
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Strategic loyalty reward in dynamic price Discrimination
Caillaud, Bernard; Nijs, Romain De - HAL - 2011
This paper proposes a dynamic model of duopolistic competition under behaviorbased price discrimination with the following property: in equilibrium, a firm may reward its previous customers although long term contracts are not enforceable. A firm can offer a lower price to its previous customers...
Persistent link: https://www.econbiz.de/10010738702
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Technology Diffusion with Learning Spillovers: Patent versus Free Access
Glachant, Matthieu; Ménière, Yann - HAL - 2010
The paper analyzes the interplay between technology diffusion and patent law. We develop a dynamic model where initial adoptions generate learning spillovers that reduce the cost of subsequent adoptions. In this setting, we contrast technology diffusion paths under competitive supply, subsidized...
Persistent link: https://www.econbiz.de/10008793084
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The monopolist is not the best environmentalists best friend: An example
Mahenc, Philippe; Podesta, Marion - HAL - 2012
This letter addresses the second-degree price discrimination issue when a mo- nopolized product is tied with environmental quality. The monopolist may degrade environmental quality too much when marginal valuations of environmental quality and the good itself are positively related across consumers.
Persistent link: https://www.econbiz.de/10010898847
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Does diversity of bank board members affect performance and risk? Evidence from an emerging market
Setiyono, Bowo; Tarazi, Amine - HAL - 2014
This study investigates the influence of background diversity of bank board members on performance and risk. Using data …, education level and type) and find significant impacts on bank performance. On the whole, diversity is in general positively … associated with performance except when it relates to ethnicity. It not only reduces performance per se but also increases risk …
Persistent link: https://www.econbiz.de/10010933906