Recent research has indicated that flexible forms do not always generate empirically credible elasticity estimates. In this paper we present a methodology from which we derive a new family of flexible functional forms (denoted by CES-GBC) that are richer in structure than the cost functions in...

A two-agent general-equilibrium model is developed for explaining the mix of wage payment between cash and kind among landowners and workers. Its focus is on how, in the absence of insurance instruments but in the presence of heterogeneous tastes and attitudes toward risk among agents, the...

This paper uses an experiment to identify what modelling decisions significantly affect estimates of own-price elasticity for non-residential electricity demands in the United States (U.S.). Based on ~175,000 panel data analyses of 10,944 monthly observations by state available from the Energy...

Although the causes for project success and failure have been the subject of many studies, no conclusive evidence or common agreement has been achieved so far. One criticism involves the universalistic approach used often in project management studies, according to which all projects are assumed...

Accurate projections of electricity demand growth by end-use customer class (residential, commercial, industrial) are necessary for energy policy modelling, resource planning, and electricity pricing and procurement. Motivated by the expected trend of rising retail electricity prices in the US...

To estimate price responsiveness of commercial demand for natural gas in the US, our panel data analysis uses five parametric specifications and monthly data for the lower 48 states in 1991-2020, finding (1) the statistically significant ( p -value ≤ 0.05) static own-price elasticity estimates...

Motivated by the relatively infrequent but very large price spikes in the day-ahead and real-time energy markets operated by the Electric Reliability Council of Texas, this paper proposes an insurance that a retail electric provider (REP) may buy to mitigate financial insolvency caused by...

We use a two-stage model to determine the equilibrium capacities, generation levels and prices of a wholesale electricity market in which independent power producers (IPPs) use natural-gas (NG) and photovoltaic (PV) technologies. PV’s effective capacity is low in the morning and afternoon...