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Self-regulation of pollution: The role of market structure and consumer information

Garvie, Devon A. - 1997

A Cournot-Nash oligopoly model is used to study self-regulation of industrial pollution emissions. Consumers have environmental preferences such that demand is decreasing in their knowledge of industrial emissions. Symmetric firms choose output and emission control input levels. Under...

Persistent link: https://www.econbiz.de/10011608332

Pyramidal groups and external finance: An empirical investigation

Bianco, Magda; Casavola, Paola; Ferrando, Annalisa - 1997

In Italy an extremely large number of companies is organized as a pyramidal group. As compared to other control structures, pyramidal groups might offer minority shareholders less protection and hence discourage them from holding shares. We evaluate empirically the impact of some variables that...

Persistent link: https://www.econbiz.de/10011608334

Endogenous uncertainty: A unified view of market volatility

Kurz, Mordecai - 1997

The purpose of this paper is to provide a non-technical exposition of the main conclusions of the theory of Rational … Belief Equilibrium (RBE) for market volatility. It is argued that the theory of Rational Belief Equilibria (RBE) provides a … uncertainty is propagated within the economy (hence "endogenous") by the beliefs of the agents who trade assets. The theory of RBE …

Persistent link: https://www.econbiz.de/10011608344

Endogenous allocation of the exit option between workers and shareholders

Moretto, Michele; Rossini, Gianpaolo - 1997

We deal with efficient allocation of the shut-down decision of a firm in which there is profit sharing. The paper can be considered as a complement to the literature on the endogenous ownership structure of the firm. We examine a variety of cases according to both different schemes of layoff...

Persistent link: https://www.econbiz.de/10011608348

Discounting an uncertain future

Gollier, Christian - 1997

We discuss the selection of the socially optimal discount rate for public investment projects that entail costs and benefits in the very long run. More specifically, we examine in an expected utility framework how the uncertainty on the growth rate of the GNP per head affects this rate. Under...

Persistent link: https://www.econbiz.de/10011608349

A theoretical approach to tourism sustainability

Casagrandi, Renato; Rinaldi, Sergio - 1997

In this paper we analyse tourism sustainability from a modelling point of view. The minimal model we propose is composed of three non-linear ordinary differential equations describing the dynamics of tourists, environment and services. Many of the parameters involved are concerned with the...

Persistent link: https://www.econbiz.de/10011608350

Effects of national energy policies on carbon dioxide emissions in a European internal electricity market: Results from a simulation model of the European power systems

Hoster, Frank - 1997

This article considers the economic and environmental (in terms of CO2) effects of national energy policies in a European Single Market for electricity. It was found that the combined CO2/Energy-tax proposed by the European Commission would be able to stabilise the current volume of...

Persistent link: https://www.econbiz.de/10011608351

Trade for nature

Schulz, Carl-Erik; Barbier, Edward B. - 1997

Optimal management of biodiversity at the national level, even if achievable, is not necessarily consistent with a … policy behaviour distorts the management of a biological resource, and in particular fails to achieve a global or …

Persistent link: https://www.econbiz.de/10011608352

Changes in financial structure and industry product markets: An econometric analysis

Zotti, Antonio - 1997

econometric theory, the empirical analysis is carried out through an error-correction model (ECM) which allows to separate the …

Persistent link: https://www.econbiz.de/10011608353

An option approach to water delegation

Clark, Ephraim A.; Mondello, Gérard - 1997

The problem that we address in this paper stems from the trend to delegation in the water management field. The problem … that we address refers to the municipality's negotiating disadvantage in the face of some cartelized water management. We … revoke delegation and return to direct management, is also ineffective due to a lack of credibility that is essentially …

Persistent link: https://www.econbiz.de/10011608357