We investigate the problem of optimally timing production schedules in an emissions trading regime that does not allow the transfer of unused allowances into future periods. We show that companies that produce storable goods partially shift the production to prior periods and imitate - by...

An analysis of the available National Allocation Plans for the first period (2005�2007) of the EU emissions trading scheme (EU ETS) implies (i) that the total allocation to installations covered under the EU ETS is fairly generous and (ii) that most, if not all EU Member States ban the...

Admitting banking in emissions trading systems reduces overall compliance costs by allowing for inter-temporal flexibility: cost savings can be traded over time. However, unless individual EU Member States (MS) decide differently, the transfer of unused allowances from the period of 2005-2007...

This paper analyses the auction designs chosen for awarding 3G licences in the UK and Germany and compares them with respect to revenues and bidders' surplus using a laboratory experiment. In our study with a given number of bidders, the German design leads to higher revenues. However, bidder...

From an analysis of the available national allocation plans for the first period (2005-2007) of the EU emissions trading scheme (EU ETS), it can be inferred that (i) the total allocation to installations covered under the EU ETS is rather generous and (ii) most EU Member States ban the transfer...

Our experimental design mimics a traditional evolutionary game framework where players are matched pairwise to play a symmetric 3x3 bimatrix game which has two Nash equilibria. One equilibrium is an evolutionary stable state, or ESS; the other is an equilibrium in dominated strategies. Our...

In an experimental study auction procedures of variable rate tenders, which are prevalent in practice, the discriminatory American auction and the competitive Dutch auction, are investigated on a repeated basis. At the center of this study stands the comparison of the two auction formats with...

This paper studies budget processes, both theoretically and experimentally. We give a sufficient condition for top-down and bottom-up budget processes to have the same voting equilibrium. Furthermore, at a voting equilibrium, it is not always true, as often presumed, that a top-down budget...

A Systematic Comparison of Pension Annuities and Self-Annuitization under the Criterion of Capital Exhaustion is presented. The present paper further develops the paper of Albrecht/Goebel (SFB 504 discussion paper 00-31). New features are the evaluation of real estate funds, the consideration of...