Energy industries are mainly organised at national level in Hungary, however local governments have their specific role in the system. Local governments have been major performers in the first period of the transition process: they were entitled to receive 25 per cent of the shares in electric...

Environmental policy often has to be devised under informational constraints, like uncertainty and asymmetric information. We consider an environmental policy that aims at reducing the welfare losses caused by asymmetric information while being sufficiently simple for implementation. In this...

We focus in this paper on the effects of court errors on the optimal sharing of liability between firms and financiers, as an environmental policy instrument. Using a structural model of the interactions between firms, financial institutions, governments and courts we show, through numerical...

Infrastrukturen in Verkehrssektoren sind regelmäßig Gegenstand von Diskussionen um Marktversagen und Markteingriffe. Die in der EU verfolgten Regulierungsansätze und die daraus entstandene Regulierungslandschaft insbesondere in Verkehrssektoren sind dadurch divers: Während...