Starting with the liberalization of electricity trading, this market grew rapidly over the last decade. However, while spot and future markets are rather liquid nowadays, option trading is still limited. One of the potential reasons for this is that the spot price process of electricity is still...

This paper analyzes the impact of model complexity on the net present value distribution and the expected default probability of equity investments in project finance. Model complexity is analyzed along two dimensions: simulation complexity and forecast complexity. We aim to identify model...

We study how actors engage in institutional work to manage legitimacy by influencing media discourse in the face of discontinuous innovation. We content-analyze actor quotes reproduced in newspaper articles about the ‘sharing economy’ in the taxi and lodging industries to survey this aspect...

Naturparke bilden die älteste Schutzgebietskategorie in Deutschland. Neben Aufgaben wie Naturschutz und Erholung wurde ihnen als relativ neue und zentrale Aufgabe die nachhaltige Regionalentwicklung, verankert im Bundesnaturschutzgesetz sowie den meisten Landesnaturschutzgesetzen, zugesprochen....