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The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry
Borenstein, Severin; Bushnell, James; Stoft, Steven - 2021
capacity on competition among" generators. We show that there may be no relationship between the effect of a transmission line …" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are … relatively small investments in transmission may yield surprisingly large" payoffs in terms of increased competition …
Persistent link: https://www.econbiz.de/10013240555
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Expandability, Reversibility, and Optimal Capacity Choice
Dixit, Avinash; Pindyck, Robert S. - 2021
We develop continuous-time models of capacity choice when demand fluctuates stochastically, and the firm's opportunities to expand or contract are limited. Specifically consider costs of investing or disinvesting that vary with time, or with the amount of capacity already installed. The firm's...
Persistent link: https://www.econbiz.de/10013225569
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R&D Investments with Competitive Interactions
Miltersen, Kristian R. - 2012
) competition in the development and marketing of the resulting product. The competitive interactions that occur substantially … these interactions. Implementation of the model shows that competition in R&D, in general, not only increases production and …
Persistent link: https://www.econbiz.de/10013115937
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The Effects of Government-Sponsored Venture Capital : International Evidence
Brander, James A. - 2014
This paper examines the impact of government-sponsored venture capitalists (GVCs) on the success of enterprises. Using international enterprise-level data, we identify a surprising non-monotonicity in the effect of GVC on the likelihood of exit via initial public offerings (IPOs) or third party...
Persistent link: https://www.econbiz.de/10013069031
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Government Sponsored Versus Private Venture Capital : Canadian Evidence
Brander, James A. - 2014
public policy objectives, including value-creation, innovation, and competition. A number of novel data-collection methods …
Persistent link: https://www.econbiz.de/10012751481
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Productivity, Market Power and Capacity Utilization When Spot Markets are Complete
Eden, Benjamin - 2010
is the elasticity of capacity with respect to fixed labor. Under competition and risk neutrality this coefficient is … reject the joint hypothesis of competition and risk neutrality. It is also argued that the coefficient of total man …
Persistent link: https://www.econbiz.de/10013139426
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Endogenous Capital Utilization and Productivity Measurement in Dynamic Factor Demand Models : Theory and an Application to the U.S. Electrical
Prucha, Ingmar R. - 2010
Studies of the firm's demand for factor inputs often assume a constant rate of utilization of the inputs and ignore the fact that the firm can simultaneously choose the level and the rate of utilization of its inputs. In particular, the literature on dynamic factor demand models has, until...
Persistent link: https://www.econbiz.de/10013139928
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Irreversible Investment, Capacity Choice, and the Value of the Firm
Pindyck, Robert S. - 2021
A model of capacity choice and utilization is developedconsistent with value maximization when investment is irreversibleand future demand is uncertain. Investment requires the fullvalue of a marginal unit of capacity to be at least as large asits full cost. The former includes the value of the...
Persistent link: https://www.econbiz.de/10013225842
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Productivity Measurement with Nonstatic Expectations and Varying Capacity Utilization : an Integrated Approach
Morrison Paul, Catherine J. - 2021
Typically measures of multifactor productivity growth have been based on a production and optimization framework that assumes all inputs are instantaneously adjustable, thus ignoring the important impacts of short run fixity of certain inputs. This paper focuses on the distinction between short...
Persistent link: https://www.econbiz.de/10013234394
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On the Economic Interpretation and Measurement of Optimal Capacity Utilization with Anticipatory Expectations
Morrison Paul, Catherine J. - 2021
This study builds on recent research giving the notion of capacity utilization clearer economic foundations. In this research optimal output Y* is defined as the minimum point on the firm's short-run average total cost curve, and capacity utilization is then computed as CU=Y/Y*, where Y is...
Persistent link: https://www.econbiz.de/10013212910