Many power markets around the world have been facing inadequacy with generation capacity investment to meet the growing demand. Among various frameworks directed towards this problem, capacity markets have emerged in major eastern US power markets. In this paper, a prototype capacity market is...

Financial globalisation during the 1990s impinged upon world savings and investment flows, macroeconomic developments, challenges confronting policy makers, international investors and financial market regulators. Experiences of the last two decades reveal that international financial markets...

In Deutschland werden mehr als 30 Prozent des Sozialprodukts für Soziales ausgegeben, und der Staat greift mit seinen Sozialgesetzen massiv in die Handlungsfreiheit seiner Bürger ein. In diesem Buch werden normative Begründungen sowohl für staatliche Umverteilungsmaßnahmen als auch für die...

We review some of the most significant issues and results on the economic effects of genetically modified (GM) product innovation, with emphasis on the question of GM labeling and the need for costly segregation and identity preservation activities. The analysis is organized around an explicit...

We develop a new partial equilibrium, four-region world trade model for the soybean complex comprising soybeans, soybean oil, and soybean meal. In the model, some consumers view genetically modified Roundup Ready (RR) soybeans and products as weakly inferior to conventional ones; the RR seed is...

On a topic like the environment, communication among scholars from different disciplines in the natural and social sciences is both important and difficult, but such communication has been far from perfect. Economists themselves may have contributed to some rather fundamental misunderstandings...

While the recent commodity price crisis brings questions regarding the general developement path of the CAP since 1992, this paper envisages returning to Rooseveltian recipes, after modernization.

Financial liberalisation, through increasing investment as well as the average productivity of capital, should stimulate economic growth, or so the theory goes. Bank lending unfortunately suffers adverse selection and moral hazard effects, to which the establishment and expansion of stock...

This thesis adds to the body of knowledge available to decision makers in highereducation by presenting a framework for why valuable sustainability projects are oftennot pursued on university campuses, and offers one approach to overcoming theperceived financial obstacles for making investments...

In this piece, I take issue with one of the fundamental tenets of law and economics as it has been used to justify gender discrimination in the pricing of life insurance and annuities, namely, that individuals should bear their own identifiable costs so as to avoid misallocation of society's...