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...

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...

People behave pro-socially in a wide variety of situations that standard economic theory is unable to explain. Social comparison is one explanation for such pro-social behavior: people contributeif others contribute or cooperate as well....

In public good provision, privileged groups enjoy the advantage that some of its membersfind it optimal to supply a positive amount of the public good. However, their inherentasymmetric nature may make the enforcement of cooperative behavior through informalsanctioning harder to accomplish...

We consider a modi¯ed pure public good game characterized by a pre-play negotiation stage, onwhich pairs of players can form binding cooperation commitments. As the introduced mecha-nism only supports pairwise rather than more inclusive commitments, it does not implement thee±cient outcome. We...

Am Abend des 30. Oktober 1938 löste eine Radiosendung in den USA eine Massenhysterie aus (vgl. Wells 1974: 342). Das Hörspiel Krieg der Welten wurde von ca. sechs Millionen Menschen verfolgt, zwei Millionen von ihnen glaubten, die Sendung basiere auf aktuellen Geschehnissen. Die darauf...

In a public goods experiment, subjects can vary over a period of stochasticlength two contribution levels: one is publicly observable (their cheap talkstated intention), while the other is not seen by the others (their secretintention). When the period suddenly stops, participants are restricted...

This paper analyzes the eects of the New Source Review (NSR) environmental regula-tions on coal-red electric power plants. Regulations that grew out of the Clean Air Actof 1970 required new electric generating plants to install costly pollution control equipmentbut exempted existing plants....

This paper compares emissions trading based on a cap on total emissions (permit trading)and on relative standards per unit of output (credit trading). Two types of market structureare considered: perfect competition and Cournot oligopoly. The effect of combining the twoschemes is also...

Building on the philosophy of Charles Sanders Peirce, recent advances in biosemiotics haveresulted into a concise framework for the analysis of signs in living systems. This paper exploresthe potential for economics and shows how biosemiotics can integrate two differentresearch agendas, each of...