We study the effects of different information structures (full information, supply uncertainty and demand uncertainty) on equilibrium prices, allocative efficiency and bidding behavior in a (supply-side) uniform-price multi-unit auction, using supply function competition and a novel experimental...

We consider a two-layered review system of environmental regulation where a polluting firm periodically self-reports its emissions to a regulatory authority. The system typically requires a third party to verify the firm's report and, in addition, an official of the regulatory authority to...

We experimentally study the effect of auction format (sealed-bid vs. closed clock vs. open clock) and auction sequence (simultaneous vs. sequential) on bidding behaviour and auction outcomes in auctions of multiple related multi-unit items. Prominent field applications are the sale of emission...

Low electricity prices put economic pressure on hydropower companies. A more flexible water fee design can counteract this pressure and support hydropower companies during times when market revenues are low. However, this comes at the cost of lower revenues for resource owners. Using a sample of...

This report analyses the influence of the Cap and Trade (CaT) system and the electricity market in California along two main questions: How do CaT design features affect the environmental effectiveness of the system and the quality of the carbon price signal? How do electricity market design...

This report analyses the interaction of the European Emissions Trading System (EU ETS)and the German and Polish electricity markets along two main questions: How do EU ETS design features affect the environmental effectiveness of the system and the quality of the carbon price signal? How do...