We study an industry in which an upstream monopolist supplies an essential input at a regulated price to several downstream firms. Legal unbundling means that a downstream firm owns the upstream firm but this upstream firm is legally independent and maximizes its own upstream profits. We allow...

We study an industry with a monopolistic bottleneck (e.g. a transmission network) supplying an essential input to several downstream firms. Under legal unbundling the bottleneck must be operated by a legally independent upstream firm, which may be partly or fully owned by an incumbent active in...

The Fukushima Daiichi nuclear accident in 2011 led to some drastic reactions in Germany, in particular an immediate shut-down of older nuclear power plants. This event is therefore often seen as a turning point, or a major accelerator for the German Energiewende. We investigate the short term...