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Least Unmatched Price Auctions:A First Approach

Eichberger, Jürgen; Vinogradov, Dmitri V. - Alfred-Weber-Institut für Sozial- und … - 2008

Least-Unmatched Price Auctions have become a popular format of TV and radio shows. Increasingly,they are also applied in internet trading. In these auctions the lowest single (unique)bid wins. We analyze the game-theoretic solution of least unmatched price auctions when prize,bidding cost and...

Persistent link: https://www.econbiz.de/10005868395

Dynamic Efficiency of EmissionTrading Markets: An ExperimentalStudy

Nicklisch, Andreas; Zucchini, Leon - Max-Planck-Institut für Ökonomik <Jena> - Abteilung …

This study investigates the dynamic efficiency of an emissionregulation regime where companies competitively pay for emissionlicences. We embed the emission licence market in a Cournotmodel where the price of emission licences is subject to strategictradeoff between licences and abatement...

Persistent link: https://www.econbiz.de/10005866945

Innovation Without Magic Bullets:Stock Pollution and R&D Sequences

Goeschl, Timo; Perino, Grischa - Alfred-Weber-Institut für Sozial- und … - 2006

there is no perfectlyclean technology that eventually solves the pollution problem once andfor all. New technologies have … stings attached, i.e. each emits a specificstock pollutant. Damages are convex in individual pollution stocks butadditive … across stocks, creating gains from diversification. The researchand pollution policies are tightly linked in such a setting …

Persistent link: https://www.econbiz.de/10005868459

Understanding volatility dynamics in the EU-ETS market:lessons from the future

Sanin, María Eugenia; Violante, Francesco - Center for Operations Research and Econometrics … - 2009

In this paper we study the short term price behavior of December 2008 future prices for EU emissionallowances. We model returns and volatility dynamics of this price showing that a standard ARMA-GARCHframework is not adequate and that the gaussianity assumption is rejected due to the occurrence...

Persistent link: https://www.econbiz.de/10005868650

The Life Satisfaction Approach to Environmental Valuation

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois : … - Wirtschaftswissenschaftliches Zentrum <Basel> - 2009

In many countries environmental policies and regulations are implemented to improveenvironmental quality and thus individuals’ well-being. However, how do individuals valuethe environment? In this paper, we review the Life Satisfaction Approach (LSA) representinga new non-market valuation...

Persistent link: https://www.econbiz.de/10008845714

Heterogeneous Preferences for Community Recycling Programs

Kipperberg, Gorm; Larson, Douglas M. - Universitetet <Stavanger> / School of Business …

This paper examines households’ preferences for community recycling programs,which have both public and private good dimensions. The data come from a surveyconducted in Seattle, WA that elicited stated preferences for different recyclingsystems (or program changes) relative to status quo with...

Persistent link: https://www.econbiz.de/10009305190

Reference-Dependent Preferences and Loss Aversion:A Discrete Choice Experiment in the Health-Care Sector

Neuman, Einat; Neuman, Shoshana - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

A Discrete Choice Experiment (DCE) in the health-care sector is used to test the lossaversion theory that is derived … paper is the first to use a DCE to test the loss aversion theory... …

Persistent link: https://www.econbiz.de/10005861082

A MicroeconomicExplanation of the EPKParadox

Härdle, Wolfgang; Krätschmer, Volker; Moro, Rouslan Arthur - Sonderforschungsbereich Ökonomisches Risiko <Berlin>

Supported by several recent investigations the empirical pricing kernel paradox might beconsidered as a stylized fact. In Chabi-Yo et al. (2008) simulation studies have been presentedwhich suggest that this paradox might be caused by regime switching of stock prices in financialmarkets....

Persistent link: https://www.econbiz.de/10005865450

Continuous Market GrowthBeyond Functional Satiation

Frenzel Baudisch, Alexander - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

Market growth is driven by product innovation. Beyond functional satiationthe marginal utility of product performance and variety decreases. We argue that socialcomparisons underlying innovation diffusion results in consumer motivations for upwardassimilation toward the behavior of better...

Persistent link: https://www.econbiz.de/10005866000

The Resolution GameA Multiple Selves Perspective

Migrow, Dimitri; Uhl, Matthias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

The notion of choice inconsistency is widely spread in the literature on behavioraleconomics. Several approaches were used to account for the observation that peoplereverse their choices over time. This paper aims to explain the formation of resolutionsregarded as internal self-binding devices....

Persistent link: https://www.econbiz.de/10005866391