In Germany, the electricity system is evolving to be dominated by feed-ins from volatile renewable sources. The challenge implied is to buffer these fluctuations with the aim to stabilise the system-a task we are used to see carried out in the past by conventional power plants almost...

For the climate conference in Copenhagen, December 7 to 18, after broad expert discussions, the Wuppertal Institute for Climate, Environment and Energy submits a proposal for an effective and equitable climate change agreement.

Mit der Liberalisierung der Strom- und Gasmärkte in Deutschland und Europa werden vor allem wirtschaftliche Zielsetzungen verfolgt. Die Effizienz auf der Angebotsseite von Energie soll erhöht und Überkapazitäten sollen abgebaut werden. Zudem sollen durch den Wettbewerb zwischen verschiedenen...

Im Herbst 2001 veröffentlichte Bundeswirtschaftsminister Werner Müller einen viel diskutierten Energiebericht. Neben einer Bestandsaufnahme der deutschen Energie- und Klimapolitik befasst er sich auch mit einer Analyse der zukünftigen Entwicklungsmöglichkeiten des Energiesystems. Dabei steht...

We analyse the key determinants of umbrella effects, which arise when the price increase or quantity reduction of a cartel diverts demand to substitute products. Umbrella effects arise irrespective of whether non cartelists act as price takers (“competitive fringe”) or respond strategically...

This paper analyzes the role of different contract types and access regulation on innovation and competition in telecommunications in the context of Next Generation Access Networks. Within a standard duopoly model, it is shown that ex-post access contracts lead less often to the duplication of...

We analyze how two key managerial tasks interact: that of growing the business through creating new investment opportunities and that of providing accurate information about these opportunities in the corporate budgeting process. We show how this interaction endogenously biases managers toward...

We present a simple model of personal finance in which an incumbent lender has an information advantage vis-a-vis both potential competitors and households. In order to extract more consumer surplus, a lender with sufficient market power may engage in irresponsiblelending, approving credit even...

This paper considers a firm that has to delegate to an agent, such as a mortgage broker or a security dealer, the twin tasks of approaching and advising customers. The main contractual restriction, in particular in light of related research in Inderst and Ottaviani (2007), is that the firm can...