Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and...

Unter dem Merit-Order-Eekt (M-O-E) der erneuerbaren Energien (EE) wird deren preissenkende Wirkung auf die Strompreise auf Großhandelsebene (Börsenpreise) verstanden. Sowohl die Höhe des Merit-Order-Effekts in der kurzen und der langen Frist als auch dessen volkswirtschaftliche Bedeutung ist...

In the aftermath of the nuclear catastrophe in Fukushima, German nuclear policy has been reconsidered. This paper demonstrates the economic effects of an accelerated nuclear phase-out on the German electricity generation sector. <p> A detailed optimization model for European electricity markets is...</p>

The German Energiewende’s potential effects on the reliability of electricity supply as well as the corresponding economic consequences have recently entered both the political and scientific debate. However, empirical evidence of power outage costs in Germany is rather scarce. Following a...