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Some Inconvenient Truths About Climate Change Policy: The Distributional Impacts of Transportation Policies

Holland, Stephen P.; Knittel, Christopher R.; Hughes, … - National Bureau of Economic Research (NBER) - 2011

Instead of efficiently pricing greenhouse gases, policy makers have favored measures that implicitly or explicitly subsidize low carbon fuels. We simulate a transportation-sector cap & trade program (CAT) and three policies currently in use: ethanol subsidies, a renewable fuel standard (RFS),...

Persistent link: https://www.econbiz.de/10009278258

Understanding Strategic Bidding in Restructured Electricity Markets: A Case Study of ERCOT

Puller, Steven L.; Hortacsu, Ali - National Bureau of Economic Research (NBER) - 2005

We examine the bidding behavior of firms competing on ERCOT, the hourly electricity balancing market in Texas. We characterize an equilibrium model of bidding into this uniform-price divisible-good auction market. Using detailed firm-level data on bids and marginal costs of generation, we find...

Persistent link: https://www.econbiz.de/10005078617

How do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines

Goolsbee, Austan; Syverson, Chad - National Bureau of Economic Research (NBER) - 2005

We examine how incumbents respond to the threat of entry by competitors (as distinct from how they respond to actual entry). We look specifically at passenger airlines, using the evolution of Southwest Airlines' route network to identify particular routes where the probability of future entry...

Persistent link: https://www.econbiz.de/10005084944

Identification and Estimation of Cost Functions Using Observed Bid Data: An Application to Electricity Markets

Wolak, Frank A. - National Bureau of Economic Research (NBER) - 2001

This paper presents several techniques for recovering cost function estimates for electricity generation from a model of optimal bidding behavior in a competitive electricity market. Two techniques are developed based on different models of the price-setting process in a competitive electricity...

Persistent link: https://www.econbiz.de/10005829987

An Empirical Analysis of the Impact of Hedge Contracts on Bidding Behavior

Wolak, Frank A. - National Bureau of Economic Research (NBER) - 2001

A major concern in the design of wholesale electricity markets is the potential for the exercise of market power by generating unit owners. To better understand the determinants of generating unit owner market power and how it is exercised, this paper derives a model of bidding behavior in a...

Persistent link: https://www.econbiz.de/10005830349

Do Airline Bankruptcies Reduce Air Service?

Borenstein, Severin; Rose, Nancy Lin - National Bureau of Economic Research (NBER) - 2003

The airline industry's current financial crisis has raised concerns over the ramifications of airline bankruptcies for air service and the economy. Such bankruptcies, however, nearly always occur when demand is weak, and, thus, when even healthy airlines are inclined to reduce flights. Moreover,...

Persistent link: https://www.econbiz.de/10005778245

Biases in Static Oligopoly Models? Evidence from the California Electricity Market

Knittel, Christopher R.; Kim, Dae-Wook - National Bureau of Economic Research (NBER) - 2004

identify industry competition and marginal cost levels by estimating the firms' first order condition within a conjectural …

Persistent link: https://www.econbiz.de/10004976962

Reliability and Competitive Electricity Markets

Joskow, Paul; Tirole, Jean - National Bureau of Economic Research (NBER) - 2004

Despite all of the talk about deregulation' of the electricity sector, a large number of non-market mechanisms have been imposed on emerging competitive wholesale and retail markets. These mechanisms include spot market price caps, operating reserve requirements, non-price rationing protocols,...

Persistent link: https://www.econbiz.de/10005105860

Retail Electricity Competition

Joskow, Paul; Tirole, Jean - National Bureau of Economic Research (NBER) - 2004

We analyze a number of unstudied aspects of retail electricity competition. We first explore the implications of load … homogeneous up to a scaling factor. In general, the combination of retail competition and load profiling does not yield the second … consumption, retail competition yields the Ramsey prices even when consumers can only partially respond to variations in real time …

Persistent link: https://www.econbiz.de/10005105886

Who is Exposed to Gas Prices? How Gasoline Prices Affect Automobile Manufacturers and Dealerships

Knittel, Christopher R.; Busse, Meghan R.; Zettelmeyer, … - National Bureau of Economic Research (NBER) - 2012

Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect...

Persistent link: https://www.econbiz.de/10010652306

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