In this paper we propose an equilibrium model that allows to analyze subsidization schemes to affect locational choices for generation investment in electricity markets. Our framework takes into account generation investment decided by private investors and redispatch as well as network...

We analyze the problem of selling shares of a divisible good to a large number of buyers when demand is uncertain. We characterize equilibria of two popular mechanisms, a fixed price mechanism and a uniform price auction, and compare the revenues. While in the auction truthful bidding is a...

Sanctions and their effectiveness are at the centre of the discussion about an appropriate response to Russia’s war of aggression against Ukraine. At the latest since the atrocities of the war became evident and payment for gas supplies in roubles was brought into play, voices calling for a...

The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and presents a game theoretic explanation of observed...

The second-generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in a simultaneous ascending-bid auction. The present paper gives an account of the events, describes the auction rules and market conditions, and provides a theoretical explanation...

This article explores the design of Carbon Adjustment Mechanisms based on an analysis of historical data, the existing literature as well as theoretical considerations. In an empirical analysis we quantify territorial emissions as compared to the CO2 footprints for countries within the EU ETS...

Die Energiekrise zwingt Deutschland und die EU-Staaten energiepolitische Entscheidungen neu zu bewerten und gegebenenfalls anzupassen. Zunächst rückt die Notwendigkeit, die erneuerbaren Energien schnell und ambitioniert auszubauen noch stärker in den Fokus. Zudem gibt es einerseits...

There is broad but ambiguous evidence on ethnic discrimination. In particular, there is a disparity between lab and field. In order to assess a possible influence of monitoring (e.g. in an experimental setup) on discrimination we implement a recruitment setup on an online crowdsourcing...