Using a panel of household travel diary data collected in Germany between 1997 and 2005, this study assesses the effectiveness of fuel efficiency improvements by econometrically estimating the rebound effect, describing the extent to which higher efficiency causes additional travel.Following a...

Individuals have an increased incentive to invest when they know that they can sell their investments whenever they need funds. However, such an increase in investments reduces the returns by exacerbating the negative externalities individuals impose on each other whenever they invest. As a...