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In the context of supply function competition with private information, we test in the laboratory whether - as predicted in Bayesian equilibrium - costs that are positively correlated lead to steeper supply functions and less competitive outcomes than do uncorrelated costs. We find that the...
Persistent link: https://www.econbiz.de/10011509449
We analyse the drivers of European Power Exchange (EPEX) retail electricity prices between 2012 and early 2022 using machine learning. The agnostic random forest approach that we use is able to reduce in-sample root mean square errors (RMSEs) by around 50% when compared to a standard linear...
Persistent link: https://www.econbiz.de/10013262773
Several European countries have decided to phase out coal power generation. Emissions from electricity generation are already regulated by the EU Emissions Trading System (ETS), and in some countries like Germany the phaseout of coal will be accompanied with cancellation of emissions allowances....
Persistent link: https://www.econbiz.de/10012241075
Under collusion, firms deviate from current profit maximization in anticipation of future rewards. As current profit maximization places little restrictions on firms' pricing behaviour, collusive conduct is hard to infer. We show that bids from certain firms in the Colombian wholesale...
Persistent link: https://www.econbiz.de/10014252003
private provision of public goods. We examine whether reciprocity can resolve the associated coordination problem. The …
Persistent link: https://www.econbiz.de/10010383392
perceive a fundamental parameter with noise. We focus on 2 x 2 coordination games, which generate multiple equilibria when …
Persistent link: https://www.econbiz.de/10012698826
higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011761639
coordination. In a fixed interaction treatment, a vast majority of subjects quickly coordinates on the inefficient outcome. In a …
Persistent link: https://www.econbiz.de/10012506919
equilibrium into a coordination game with a set of Pareto-superior equilibria. Thresholds may therefore improve efficiency in the … voluntary provision of public goods. In our one-shot experiment, we find that coordination often fails and exogenously imposed …, because voting may facilitate coordination due to signaling and commitment effects. We find that voting does have signaling …
Persistent link: https://www.econbiz.de/10003923574
Even when labour mobility is low, international integration affectslabour markets by making jobs more mobile. This runs via product market integration, which is an essential element of European integration. Increasing job mobility aects the possibilities single countries perceive in pursuing...
Persistent link: https://www.econbiz.de/10011400674