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Nonparametric Tests for Common Values in First-Price Sealed-Bid Auctions

Haile, Philip A.; Hong, Han; Shum, Matthew - 2004

We develop tests for common values at first-price sealed-bid auctions. Our tests are nonparametric, require observation only of the bids submitted at each auction, and are based on the fact that the "winner's curse" arises only in common values auctions. The tests build on recently developed...

Persistent link: https://www.econbiz.de/10011325023

Spot, Bilateral and Futures Trading in Electricity Markets. Implications for Stability

Termini, Valeria; Cavallo, Laura - 2007

The design of wholesale electricity markets in the transition towards liberalization presents significant differences from country to country. Some spot markets have imposed the concentration of transactions to ensure market liquidity. Other markets are based on bilateral trading. The debate...

Persistent link: https://www.econbiz.de/10010312369

The economics of a "mixed blessing" effect: A case study of the Black Sea

Knowler, Duncan; Barbier, Edward B. - 2002

Nutrient enrichment of marine ecosystems is regarded as a pressing global environmental problem. For certain marine species it may be a mixed blessing, resulting in damaging ecosystem events, but contributing to primary productivity. Consequently, the impact of enrichment on fishery profits may...

Persistent link: https://www.econbiz.de/10011335671

The effects of pollution on open access fisheries: A case study of the Black Sea

Knowler, Duncan; Barbier, Edward B.; Strand, Ivar E. - 1997

There is now increasing recognition that the world's marine ecosystems, especially coastal areas and semi-enclosed seas, are suffering from degradation and modification due to human influences. One of the most serious problems is nutrient enrichment, which in the long term harms productivity and...

Persistent link: https://www.econbiz.de/10011608361

Marketing via friends: strategic diffusion of information in social networks with homophily

Chuhay, Roman - 2010

The paper studies the impact of homophily on the optimal strategies of a monopolist, whose marketing campaign of new …

Persistent link: https://www.econbiz.de/10010272373

An exploration of the link between development, economic growth, and natural risk

Hallegatte, Stéphane - 2013

, where capital accumulates through increased density of capital at risk in a given area, it is optimal for (i) the … probability of disaster occurrence to decrease with income; (ii) the capital at risk - and thus the economic losses in case of … development and slower than income at high levels of development. In that case, increasing risk-taking reinforces economic growth …

Persistent link: https://www.econbiz.de/10010294283

Transport Energy Security. The Unseen Risk?

Fisk, David - 2004

framework now looks more problematic, at least for oil supplies. The underlying level of risk that characterised the oil market …

Persistent link: https://www.econbiz.de/10011324988

Tax Competition, Investment Irreversibility and the Provision of Public Goods

Moretto, Michele; Panteghini, Paolo; Vergalli, Sergio - 2013

This article studies the effects of tax competition on the provision of public goods under business risk and partial …

Persistent link: https://www.econbiz.de/10010328675

Risk Communication and public perception of technological hazards. First Volume

Recchia, Virginia - 1999

Research on risk communication relates basic risk perception studies to the formulation of policies, the currently … evolving legislation dealing with hazards, the key issues of public involvement, the risk and environmental management. Risk … communication is a relatively new field based on a sociological approach. The discipline comes from risk perception studies …

Persistent link: https://www.econbiz.de/10011608544

Risk Communication and public perception of technological hazards. Second Volume

Recchia, Virginia - 1999

Persistent link: https://www.econbiz.de/10011608545