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Hellman, Ziv; Peretz, Ron - London School of Economics (LSE) - 2013

We suppose that players in a cooperative game are located within a graph structure, such as a social network or supply route, that limits coalition formation to coalitions along connected paths within the graph. This leads to a generalisation of the Shapley value that is studied here from an...

Persistent link: https://www.econbiz.de/10010884676

Efficiency rents of storage plants in peak-load pricing, ii: hydroelectricity

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 1999

Duality methods of linear and convex programming are applied to impute definite marginal values to the fixed inputs of a hydroelectric plant from the operating profit. Our earlier analysis of pumped storage (of energy and other cyclically priced goods) is thus extended to valuation of an...

Persistent link: https://www.econbiz.de/10010928665

Efficiency rents of pumped-storage plants and their uses for operation and investment decisions

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2000

We apply duality methods of linear and convex programming to the problems of operation and rental valuation of facilities for conversion and storage of cyclically priced goods, e.g. , energy. Both problems are approached by shadow-pricing the stock (which is a purely intermediate commodity); and...

Persistent link: https://www.econbiz.de/10010744852

The short-run approach to LRMC pricing for multiple outputs with nondifferentiable costs

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2000

Using convex calculus, we extend the Wong-Viner Theorem to nondifferentiable costs by equating the capital inputs' rental prices to their profit-imputed marginal values. Thus extended, the short-run approach to LRMC pricing is applied to peak-load pricing with storage.

Persistent link: https://www.econbiz.de/10010745317

Characterizations of long-run producer optima and the short-run approach to long-run market equilibrium: a general theory with applications to peak-load pricing

Horsley, Anthony; Wrobel, Andrew J. - London School of Economics (LSE) - 2005

This is a new formal framework for the theory of competitive equilibrium and its applications. Our “short-run approach” means the calculation of long-run producer optima and general equilibria from the short-run solutions to the producer’s profit maximization programme and its dual. The...

Persistent link: https://www.econbiz.de/10011071376

The remains of regulation: airlines' profits after liberalization

Marin, Pedro L. - London School of Economics (LSE) - 1995

-liberalization profits. The author distinguishes between European flag carriers, which are hightly regulated at the beginning of the eighties …, and independent airlines. It is found that the latter enjoy sunk cost advantages but get lower variable profits than the …

Persistent link: https://www.econbiz.de/10010928653

Unions and productivity, financial performance and investment: international evidence

Metcalf, David - London School of Economics (LSE) - 2002

played by full-time enterprise union officials in the workplace. Unions will reduce profits if they raise pay and/or lower … productivity. The evidence is pretty clear cut: the bulk of studies show that profits or financial performance is inferior in … small USA entrepreneurial firms found a positive association between unions and profits and in the UK the outlawing of the …

Persistent link: https://www.econbiz.de/10010745670

Irreversible investment with uncertainty and scale economies

Dixit, Avinash - London School of Economics (LSE) - 1992

This paper analyses optimal irreversible investment policy when profits are subject to a multiplicative geometric …

Persistent link: https://www.econbiz.de/10010746585

On the theory of ethnic conflict

Caselli, Francesco; Coleman II, Wilbur John - London School of Economics (LSE) - 2006

We present a theory of ethnic conflict in which coalitions formed along ethnic lines compete for the economy’s resources. The role of ethnicity is to enforce coalition membership: in ethnically homogeneous societies members of the losing coalition can defect to the winners at low cost, and...

Persistent link: https://www.econbiz.de/10010745137