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In many countries, wind turbines are constructed as part of a strategy to reduce dependence on fossil fuels. In this paper, we measure the external effect of wind turbines on the transaction prices of nearby houses. A unique house price dataset covering the period 1985-2011 is used, including...
Persistent link: https://www.econbiz.de/10010405196
The purpose of the paper is to examine latent volatility Granger causality for four renewable energy Exchange Traded … energy and crude oil ETFs are from 18 June 2008 to 20 March 2017. From the underlying stochastic process of a vector random … renewable energy ETFs, but not with crude oil ETFs. …
Persistent link: https://www.econbiz.de/10011869279
Globally, governments increasingly rely on auctions to advance renewable energy. This paper studies the design of wind … renewable-energy production. While the theoretical analysis suggests that the price guarantee has no effect, our laboratory …, thus compromising auction efficiency. The subsidy is less effective than suggested by theory. Bidders with a higher …
Persistent link: https://www.econbiz.de/10014335529
Persistent link: https://www.econbiz.de/10003934200
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...
Persistent link: https://www.econbiz.de/10011379608
Since the seminal paper of Nash (1950) game theoretic literature has focused mostly on equilibrium and not on maximin (minimax) strategies. We study the properties of these strategies in 2-player non-zero-sum strategic games, whose Nash equilibria are only mixed.
Persistent link: https://www.econbiz.de/10011334334
We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...
Persistent link: https://www.econbiz.de/10010421741
Persistent link: https://www.econbiz.de/10003973298
Optimal climate policy is studied in a Ramsey growth model with exhaustible oil reserves, an infinitelyelastic supply of renewables, stock-dependent oil extraction costs and convex climate damages. Weconcentrate on economies with an initial capital stock below that of the steady state of the...
Persistent link: https://www.econbiz.de/10011380023
We argue that expectations about future energy use affect the transition from fossil fuels to renewable substitutes …
Persistent link: https://www.econbiz.de/10010390082