Real assets are usually valued by computing the stream of profits they can bring to a price-taking firm in a liquid market. This method ignores market fundamentals by assuming that all the relevant information is included in the spot price. Our article analyses the bias resulting from such an...

This paper studies the possible impacts of liquefied natural gas (LNG) projects on natural gas prices on both sides of the U. S.-Mexico border in California. In that state gas prices are high and demand is expected to grow. Several projects for LNG facilities have been proposed and have to cope...

We propose a model of seasonal gas markets which is flexible enough to include supply and demand shocks while also considering natural gas as an exhaustible resource. Using US data, we estimate the model’s structural parameters and test economically founded restrictions. We analyze,...

Motivated by policy events experienced during the last two decades by the European natural gas industry, this paper develops a simple model for analyzing the interaction between gas release and capacity investment programs as tools to improve the performance of imperfectly competitive markets....

This paper develops a simple model for examining the gas-release programs as the unique tool to improve the performance of imperfectly competitive natural gas markets. We study the "artificial" duopoly effect created by first the incumbent and then by a regulator who introduces a gas-release...

This paper uses the E-simulate model of electricity generation to estimate how much the stacking order of different technologies changes when a carbon price is introduced. Different coal and gas price scenarios are explored, and some sensitivity analysis is made of the relative market share of...