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Promoting renewable electricity generation in imperfect markets: Price vs. quantity policies

Madlener, Reinhard; Gao, Weiyu; Neustadt, Ilja; … - 2009

The search for economically efficient policy instruments designed to promote the diffusion of renewable energy technologies in liberalized markets has led to the introduction of quota-based tradable 'green' certificate (TGC) schemes for renewable electricity. However, there is a debate about the...

Persistent link: https://www.econbiz.de/10010315495

Optimal insurance contracts without the non-negativity constraint on indemnities revisited

Breuer, Michael - 2004

In the literature on optimal indemnity schedules, indemnities are usually restricted to be non-negative. Gollier (1987) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow payments from the insured to the insurer at some...

Persistent link: https://www.econbiz.de/10010315496

Estimating vertical foreclosure in US gasoline supply

Aydemir, Zava; Buehler, Stefan - 2002

We examine the competitive effects of the vertical integration of gasoline refineries and retailers in the U.S. Adapting the first-order condition approach of static oligopoly games to the analysis of vertically related oligopolies, we develop a novel framework for directly evaluating the...

Persistent link: https://www.econbiz.de/10010315497

Golden balls: A prisoner's dilemma experiment

Darai, Donja; Grätz, Silvia - 2010

We analyze cooperative behavior in a prisoner's dilemma game with high stakes, face-to-face communication, and two rounds of pre-play in which the two final contestants are endogenously selected via a voting process. Using data from the British television game show 'Golden Balls', we find a...

Persistent link: https://www.econbiz.de/10010315499

A product market theory of worker training

Gersbach, Hans; Schmutzler, Armin - 2003

We develop a product market theory that explains why firms invest in general training of their workers. We consider a …

Persistent link: https://www.econbiz.de/10010315501

Weddings with uncertain prospects: Mergers under asymmetric information

Borek, Thomas; Buehler, Stefan; Schmutzler, Armin - 2004

We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms' types. We show that there is always a no-merger equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a cut-off equilibrium if the...

Persistent link: https://www.econbiz.de/10010315502

Partial identification of discrete counterfactual distributions with sequential update of information

Boes, Stefan - 2009

The credibility of standard instrumental variables assumptions is often under dispute. This paper imposes weak monotonicity in order to gain information on counterfactual outcomes, but avoids independence or exclusion restrictions. The outcome process is assumed to be sequentially ordered,...

Persistent link: https://www.econbiz.de/10010315505

Simulating WTP values from random-coefficient models

Rischatsch, Maurus - 2009

Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for...

Persistent link: https://www.econbiz.de/10010315509

Competitive screening in insurance markets with endogenous wealth heterogeneity

Netzer, Nick; Scheuer, Florian - 2009

endogenously from unobservable savings or labor supply decisions. The endogeneity of wealth implies that high risk individuals may … irregular-crossing preferences. In our model, both risk and patience (or productivity) are privately observable. In contrast to … longer exhibit a monotone relation between risk and coverage. Individuals who purchase larger coverage are no longer higher …

Persistent link: https://www.econbiz.de/10010315511

Switching costs, firm size, and market structure

Loertscher, Simon; Schneider, Yves - 2005

In many markets, homogenous goods and services are sold both by large global frms and small local frms. Surprisingly, the large frms charge, often substantially, higher prices. Examples include hotels, airlines, and coffee shops. This paper provides a parsimonious model that can account for...

Persistent link: https://www.econbiz.de/10010315515