Energy supply is an intricate task that provides a reliable energy service to consumers throughout the year. Import dependencies, seasonal differences in energy supply and use, and daily fluctuations in consumption require a sophisticated management of energy resources and conversion, or energy...

In this paper we develop an economic model that explains the decision-making problem under uncertainty of an industrial firm that wants to invest in a process technology. More specifically, the decision is between making an irreversible investment in a combined heat-and-power production...

This paper analyzes the cost structure of the French electricity distribution sector prior to the re-structuring reforms that have been initiated in 2005 and gradually implemented in the form of re-grouping certain activities across distribution units. The aim of this study is to assess the...

The goal of this paper is to build up and apply a simple static model of world oil markets.

We present a variant of a general equilibrium model with group formation to study how changes of non-consumptive benefits from group formation impact on the well-being of group members. We identify a human relations paradox: Positive externalities increase, but none of the group members gains in...

In this paper, we present a new way to deal with initiatives, i.e. proposals that can be submitted to voting by the citizens of a democracy. We call it “Assessment Voting”. It takes place in two rounds. Before the conclusive voting, a given number of randomly-chosen voters casts its votes....

This paper investigates competition among financial intermediaries in a finite-trader version of the Diamond and Dybvig (1983) economy under no aggregate uncertainty. The economy is populated by self-interested financial intermediaries that compete strategically over deposit contracts offered to...