The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable...

This paper studies the aggregate substitution and expansion effects triggered by changes in input prices, in a context where firms supply a homogenous commodity and compete in quantities à la Cournot. We derive a sufficient condition for the existence of a Cournot equilibrium and show that this...

On the European level, a variety of different coordination mechanisms are used in different areas of economic policy. The spectrum ranges from complete centralization as in the case of monetary policy to weak forms of coordination like the so-called open coordination in social policy fields. The...

Economists praise the efficiency of the price mechanism in allocating scarce resources. Others, however, often reject it as unfair. In this study, we investigate the extent to which economists also differ from non-economists in how they value the fairness of the price system, and examine how...

The extant literature on matching markets assumes ordinal preferences for matches, while bargaining within matches is mostly excluded. Central for this paper, however, is the bargaining over joint profits from potential matches. We investigate, both theoretically and experimentally, a seemingly...

Der Beitrag reflektiert theoretisch die gegenwärtige Finanz- und Wirtschaftskrise, wobei die Ausführungen im Zusammenhang mit bestehenden Krisentheorien stehen. Meine These ist, dass die Krisentheorien der 'Unregierbarkeit' und des 'Spätkapitalismus' darin falsch lagen, den Ausgangspunkt von...