Purpose – Faced with the financing problem of small-medium enterprises (SMEs), China has attempted to establish as many as third party's collateral institutions. The paper aims to study the design of collateral arrangements including collateral fee rates, risk sharing, collateral capital...

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic...

Energiewende und europäische Energieunion stellen neue Anforderungen an die Stromnetze. Damit drohen hohe Kosten und zusätzliche Gefahren für die Netzstabilität durch anhaltende Netzengpässe. Anpassungen des Marktdesigns können dem entgegenwirken. Diese Stellungnahme stellt fünf...