We find an asymmetric pass-through of European Emission Allowance (EUA) prices to wholesale electricity prices in Germany and show that this asymmetry has disappeared in response to a report on investigations by the competition authority. The asymmetric pricing pattern, however, was not detected...

The construction of new power plants in the United States carries the risk of significantly contributing to global climate change. After concluding that the current federal regulatory response to climate change risks from power plants is inadequate, this Article examines three potential roles...

During the last two decades there has been an increase in using dynamic tariffs for billing household electricity consumption. This has questioned the suitability of traditional pricing schemes, such as two-part tariffs, since they contribute to create marked peak and offpeak demands. The aim of...

We examine the coexistence of banks and financial markets, studyinga credit market where the qualities of investment projects are notobservable and the investment decisions of entrepreneurs are not contractible...

Previous research has argued that telecommunications networks under nonlinear pricing cannot use reciprocal access charges as an instrument of collusion as long as the market is mature and there is either full participation or an exogenous participation rate. This paper shows that (even...

This paper studies a credit market with adverse selection and moral hazard where sufficient sorting is impossible. The crucial novel feature is the competition between lenders in their choice of contracts offered. The quality of investment projects is unobservable by banks and entrepreneurs’...

The supply function equilibrium provides a game-theoretic model of strategic bidding in oligopolistic wholesale electricity auctions. This paper presents an intuitive account of current understanding and shows how welfare losses depend on the number of firms in the market and their asymmetry....

This thesis strives to offer new insights in two main areas. First, in the well-researched domain of payment cards chapters 2 and 3 investigate an aspect that has hitherto been scantly examined, namely, the fact that merchant usage fees differ substantially among merchant sectors. Additionally,...

Despite the positive effect electricity grids separated from generation and supply by ownership are expected to have on the level of competition in the non-network activities, several EU member states still adhere to a solely legally unbundled transmission grid. This choice might be induced by...

Evidence from the market for flue-gas desulfurization devices [scrubbers] in the U.S. is used to show that the choice and stringency of environmental regulation have substantial effects on the mark-up of an abatement technology. The imperfectly competitive upstream eco-industry charges higher...