In the negotiations towards an agreement to reduce greenhouse gas emissions, one of the issues negotiated will be the allocation of emissions (or tradable emission permits) between countries. In most analyses and policy discussions, it is usually taken for granted that each country would like...

Non-neutral taxation, and in particular imperfect loss offset, is shown to have a strong effect not only on investment decisions, but also on required expected after-tax rates of return to equity. Systematic risk is valued according to the CAPM, while non-linear taxes are valued by option...

We study climate policy when there are technological spillovers between countries, and there is no instrument that (directly) corrects for these externalities. Without an international climate agreement, the (non-cooperative) equilibrium depends on whether countries use tradable quotas or carbon...

The key to an understanding of the TV industry is the market for TV advertising. We present a model of this market that also encompasses the product markets and the viewer market. Because viewers dislike commercials, there is congestion in advertising, and TV channels offer complementary goods...

The application of continuous time Weibull models on discrete unemployment duration data may produce bias in the estimated shape of the hazard rate. The bias can be substantial even for weekly duration data, and it is seriously aggravated if the Weibull model is erroneously mixed with a Gamma...

The contributions of the paper are threefold: i) compare with mathematical rigour the Charnes, Cooper, and Rhodes DEA model and the Farrell model exhibiting constant returns to scale, ii) reinterpret the contribution of Farrell and Fieldhouse that extended the analysis to variables returns to...

We present a stated-preference study where values of statistical lives (VSL) are derived both as public and private goods, and we distinguish between three different death causes, heart disease, environmentally related illnesses and traffic accidents. 1000 randomly chosen individuals in Norway...

In macroeconomic models of foreign exchange markets, exchange rates are determined by public information, while trading activities are completely irrelevant. In general, these models have low explanatory power for short horizons, which might be due to the possible existence of private...

It is a well known result that taking distributional constraints into account when allocating tradable permits to different agents can lead to an imperfectly competitive permit market. Hence, the emission target is no longer met at least cost. In this paper we suggest an allocation rule for...

Structural forward-looking quasi-dynamic behavioural model is estimated for the Norwegian households where husband is eligible for early retirement between 1993 and 1996. Random utility approach is applied to rationalize the observed shifts between four main stages on the labour market. Specific...