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Can Bitcoin Mining Increase Renewable Electricity Capacity?
Bruno, August; Weber, Paige; Yates, Andrew - 2022
Proponents of Bitcoin argue that demand for electricity from Bitcoin miners can lead to an increase in renewable electricity capacity. We rigorously evaluate this claim by estimating a Bitcoin electricity demand curve and include this demand curve in a long-run model of the Texas electricity...
Persistent link: https://www.econbiz.de/10014239209
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Collusion Sustainability with a Capacity Constrained Firm
Madio, Leonardo; Pignataro, Aldo - 2023
We study an infinitely repeated oligopoly game in which firms compete on quantity and one of them is capacity constrained. We show that collusion sustainability is non-monotonic in the size of the capacity constrained firm, which has little incentive to deviate from a cartel. We also present...
Persistent link: https://www.econbiz.de/10014264158
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Powering up developing countries through integration?
Auriol, Emmanuelle; Biancini, Sara - 2012
to invest compared to autarky. The investment levels remain inefficient though. With generation facilities over-investment … occurs sometimes, while systematic under-investment occurs for transportation facilities. Free-riding reduces the incentives … investment. …
Persistent link: https://www.econbiz.de/10010283608
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A strategic R&D investment with flexible development time in real option game analysis
Villani, Giovanni - 2009
The real option theory provides a useful tool to evaluate an R&D investment under uncertainty because, unlike the NPV … (Net Present Value), it considers the managerial flexibility that may be expand the investment opportunity value. However …, most R&D investment projects are open to competing firms in the same industry or line of business, and so the strategic …
Persistent link: https://www.econbiz.de/10010266007
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Energy Transition with Variable and Intermittent Renewable Electricity Generation
Pommeret, Aude - 2019
We propose one of the first dynamic models of the optimal transition from fossil fuels to renewables in electricity generation that takes into account the variability and intermittency of renewable energy as well as storage. This work sheds light on the extent to which variability and...
Persistent link: https://www.econbiz.de/10012892147
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Congestion in the Electricity Transmission System Redistributes Pollution Across Long Distances
Johnson, Erik - 2020
Electricity transmission redistributes environmental impacts across space. We exploit episodes of high electricity transmission system congestion to explore changes in ambient concentrations of air pollutants in the eastern United States. Reducing electricity system congestion decreases ozone...
Persistent link: https://www.econbiz.de/10012825399
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Utilities Included : Split Incentives in Commercial Electricity Contracts
Jessoe, Katrina - 2019
This paper quantifies a tenant-side "split incentives" problem that exists when the largest commercial sector customers are on electricity-included property lease contracts causing them to face a marginal electricity price of zero. We use exogenous variation in weather shocks to show that the...
Persistent link: https://www.econbiz.de/10012866313
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Efficiency in Wholesale Electricity Markets : On the Role of Externalities and Subsidies
Bialek, Sylwia; Unel, Burcin - 2021
This paper studies the effects of capacity market reforms that the U.S. grid operators have undertaken in response to state-level subsidies paid to emission-free electricity generation. We first derive an analytical model of energy-and-capacity markets that allows us to predict the price and...
Persistent link: https://www.econbiz.de/10013234520
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Electricity and Firm Productivity : A General-Equilibrium Approach
Fried, Stephie; Lagakos, David - 2022
Many policymakers view power outages as a major constraint on firm productivity in developing countries. Yet empirical studies find modest short-run effects of outages on firm performance. This paper builds a dynamic macroeconomic model to study the long-run general-equilibrium effects of power...
Persistent link: https://www.econbiz.de/10013309487
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Micro Jumps, Macro Humps : Monetary Policy and Business Cycles in an Estimated Hank Model
Auclert, Adrien - 2020
shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles …
Persistent link: https://www.econbiz.de/10012842965