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This paper solves for the profit maximising strategy of a durable-goods monopolist when incoming demand varies over time. Each period, additional consumers enter the market; these consumers can then choose whether and when to purchase. We first characterise the consumer's utility maximisation...
Persistent link: https://www.econbiz.de/10014057719
In this paper, we study a new channel to explain firms' price setting behavior. We propose that uncertainty about factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile prices set higher markups. We use the Bartik shift-share...
Persistent link: https://www.econbiz.de/10012695355
The M&A transactions represent a wide range of unique business optimization opportunities in the corporate transformation deals, which are usually characterized by the high level of total risk. The M&A transactions can be successfully implemented by taking to an account the size of investments,...
Persistent link: https://www.econbiz.de/10013028661
Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional measures following Lucas (2003): on average, households would be prepared to sacrifice around 5-6% of...
Persistent link: https://www.econbiz.de/10015196921
Persistent link: https://www.econbiz.de/10003678724
We study the performance of different regulatory approaches for the expansion of electricity transmission networks in the light of realistic demand patterns and fluctuating wind power. In particular, we are interested in the relative performance of a combined merchant-regulatory mechanism...
Persistent link: https://www.econbiz.de/10014184453
We study the performance of different regulatory approaches for the expansion of electricity transmission networks in the light of realistic demand patterns and fluctuating wind power. In particular, we are interested in the relative performance of a combined merchant-regulatory mechanism...
Persistent link: https://www.econbiz.de/10009347966
We develop a theory of equilibrium market volatility in a general equilibrium duopoly with complete information. The …
Persistent link: https://www.econbiz.de/10012895422
We develop a theory of market instability caused by strategic trade with complete information and without outside …
Persistent link: https://www.econbiz.de/10012930331
The power system has to deal with three main sources of uncertainty: demand uncertainty and load prediction errors, failure of power plants and uncertainty of wind. The growing share of wind and other intermittent generation sources in the European supply increases the uncertainty about power...
Persistent link: https://www.econbiz.de/10013040587