Given the ubiquitous scarcity of resources an economic approach is necessary in order to determine an optimal strategy of adaptation to climate change. In this paper we develop an economic framework for the study of adaptation which allows us to distinguish between decentralized adaptation by...

Abstract In markets with competing interconnected networks like mobile telecommunication markets investments affect the investor’s and also any competitors’ profits. In a theoretical model it is shown that cost-reducing investments reduce the investor’s termination rates and increase...

This paper considers the impact of European telecom regulation on the value of affected companies. Employing a repeating ARGARCH model, I compare the effect of three types of regulation which are categorized based on the addressed subject, i.e. cross-market, country-specific and company-specific...

In der aktuellen Debatte zur Rekommunalisierung von Stromanbietern wird häufig das Argument der sicheren Versorgung zu niedrigen Preisen von Vertretern öffentlicher Eigentümer angeführt. Während die sichere Belieferung mit Strom im Rahmen der Grundversorgung gesetzlich vorgeschrieben ist,...

This paper employs firm-level panel data of 57 incumbent and entrant firms for 23 European countries in the decade from 2003 to 2012. We examine the impact of service- and facility-based competition on firm-level investment as well as the strategic effects underlying infrastructure investment...

In the context of yardstick regulation with long-lived assets, the influence of heterogeneous investment cycles on the ability to recover capital is found to be important. The application of efficient firm standards based on historic (straight-line) depreciation given heterogeneous investment...

Ownership unbundling and third party access are discussed as two options of unbundling in both the literature and political discussions. Focusing on the South American electricity sector, I contrast static and dynamic impacts of ownership unbundling and third party access regimes on customer...

We study the effects of the car scrapping subsidies in Europe during the financial crisis. We make use of a rich data set of all car models sold in nine European countries, observed at a monthly level during 2005-2011.We employ a difference-in-differences approach, exploiting the fact that...

Although the future socio-economic benefits of a new fibre-based (“next generation access”, NGA) telecommunications infrastructure seem to be uncontroversial, a universal NGA coverage appears to be a rather unrealistic objective without government intervention. We contend, however, that the...