This study presents a set of novel and multidisciplinary scenarios (‘narratives’) that provide insight into four distinct and diverging yet plausible worlds. They combine qualitative and quantitative elements in order to reflect the interlinked and complex nature of energy and climate. We...

This paper analyzes a common-value, first-price auction with state-dependent participation. The number of bidders, which is unobservable to them, depends on the true value. For participation patterns with many bidders in each state, the bidding equilibrium may be of a "pooling" type---with high...

This paper uses auction theory to explain the unique design of the 1998-2013 posting system agreed to between Major League Baseball and the Japanese Nippon Professional Baseball League that allowed for the transfer of baseball players from Japan to the United States. It has some similarities and...

Im laufenden Jahr ist es zu einer sprunghaften Erhöhung der Zahl der Zuwanderer aus Staaten außenhalb der EU in die EU und insbesondere nach Deutschland gekommen. Der Beitrag schlägt ein durch Preise und Kapazitäten gesteuertes Verfahren zur Verteilung der Flüchtlingsströme vor.

Agri-environmental Programs - Using Auctions to Select Participants?Agri-environmental programs offering uniform payments to farmers achieved only low participation ratios in some regions whereas, in other regions, windfall profits arose. Auctions leading to individual payments equal to farmers'...

In this paper the newly established rules for trading milk quotas in Germany are analyzed. These regulations have been in force since April 2000. Following a brief historical review of the quota system, the major changes in economic incentives regarding trading milk and the expected welfare...