The German reserve power market was subject to important regulatory changes in recent years. A new market design was created by synchronization and interconnection of the four control areas. In this paper, we analyze whether or not the reforms led to lower prices for minute reserve power (MRP)....

Katz (1987), DeGraba (1990), and Yoshida (2000) have formulated theories that price discrimination bans in intermediary goods markets tend to have positive effects on allocative, dynamic and productive efficiency, respectively. We show that none of these results is robust vis-à-vis endogenous...

Economic theory suggests that gasoline retail markets are prone to collusive behavior. Oligopoly market structures prevail, market interactions occur frequently, prices are highly transparent, and demand is rather inelastic. A recent sector inquiry in Germany backed suspicions of tacit collusion...

This paper develops the hypothesis that the inclusion of multiple objectives into laws widens the discretionary powers of executive institutions. As the decision how to balance trade-offs is removed from the political to the executive sphere, policy making becomes less transparent and also less...

Das Internet ist stark durch Wettbewerb zwischen Plattformen geprägt, welche potenzielle Tauschpartner zusammenbringen. Die Konkurrenz zwischen solchen mehrseitigen Plattformen und die Marktkonzentration wird maßgeblich bestimmt durch (1) die Stärke der indirekten Netzeffekte, (2) das Ausmaß...