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Policy makers aiming to get private landholders to supply non-marketed environmental services may need to provide efficient economic incentives. Two ideas have been explored to achieve this: linking contract payments to environmental outcomes and submitting the contracts to competitive tender....
Persistent link: https://www.econbiz.de/10008866199
Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level: (i) the...
Persistent link: https://www.econbiz.de/10011039509
The present article discusses general issues associated with experimental auctions and their relative advantages and … disadvantages over other marketing research techniques. Experimental auctions create an active market environment with feedback … discusses four experimental design issues associated with experimental auctions: auction mechanism, market feedback and bidder …
Persistent link: https://www.econbiz.de/10005513956
This is a commentary on Vernon Smith's contributions to experimental economics
Persistent link: https://www.econbiz.de/10005561805
Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level: (i) the...
Persistent link: https://www.econbiz.de/10011025690
We analyze the implications of different pricing rules in discrete clock auctions. The two most common pricing rules … market; under LAB, the winners pay the highest price that clears the market. Both the HRB and LAB auctions maximize revenues …
Persistent link: https://www.econbiz.de/10008460856
Persistent link: https://www.econbiz.de/10011686286
We experimentally investigate how reputational concerns affect behavior in repeated Tullock contests by comparing expenditures of participants interacting in fixed groups with the expenditures of participants interacting with randomly changing opponents. When participants receive full...
Persistent link: https://www.econbiz.de/10011688530
This paper provides a new way to identify conditional cooperation in a real-time version of the standard voluntary contribution mechanism. Our approach avoids most drawbacks of the traditional procedures because it relies on endogenous cycle lengths, which are defined by the number of...
Persistent link: https://www.econbiz.de/10010277300
This paper questions whether informative feedback on consumption can nudge water saving behavioral change. For this purpose, we launched a five-month online information campaign which involved equipping around 1,000 households located in the province of Milan (Italy) with a smart meter. Treated...
Persistent link: https://www.econbiz.de/10014325127