The emergence of Next Generation Networks (NGNs) raises profound challenges for regulators everywhere. Different regulatory authorities have approached these problems in strikingly different ways, depending in part on the overall regulatory milieu in which they operate, and in part on the nature...

The demand for cash balances of financial intermediaries that establish contractual liabilities with credit-sensitive customers is characterized. As stated by Merton, the success of the business activities of such firms crucially depends on their credit quality, and hence, they are obliged to...

Taxing small deposits used to be a taboo in European politics – but why? This contribution re-assesses the protection of small deposits from an angle that has not received much attention in the current debate: the politico-philosophical, ordo-liberal, and social-political perspectives, arguing...

Transition from the planned to the market economy involved profound changes in Ukrainian economy. Before the liberalization of prices in 1992, milk processing in Ukraine was concentrated in regionally distributed large state milk processing factories. In the meantime, the dairy sector has been...

Most popular approaches for modeling electricity prices rely at present on microeconomics rationale. They aim to study the interaction between decisions of agents in the market, and usually represent the impact of uncertainty in such decisions in a simplified way. The usual methodology of...

This book presents a simple, yet very powerful, conceptual framework, which can be used to estimate market sizes, prices and their interdependency for new products based on historical market data for existing products in related areas. Even in situations where insufficient data is available the...

Markets for environmental externalities are typically closely related to the markets causing such externalities, whereupon strategic interactions may result. Along these lines, the market for Green Certificates is strongly interwoven in the electricity market as the producers of green...

This is an invited discussion on the Manne and Richels’ paper “The Kyoto Protocol: A Cost-Effective Strategy for Meeting Environmental Objective”. It focuses on four issues or questions: distributional realities of the international climate change negotiations, correspondence between...

We investigate the role of limited access to airport facilities as a determinant of the hub premium in the US airline industry. We use original data from competition plans that airports are required to submit to the Department of Transportation in compliance with the Aviation Investment and...