The purpose of this paper is to examine empirically the real options to shutdown, startup, and abandon existing production assets using detailed information for 1,121 individual power plants for the period 2001--2009, a total of 8,189 plant-year observations. We find strong evidence of real...

Inspired by the initial success and eventual failure of Einar Aas' trading strategy exploiting dynamical patterns in the spread between Nordic and German electricity futures, we investigate the question whether there is evidence for possible arbitrage from engaging in both markets simultaneously...

Futures on fresh farmed salmon traded at the Fish Pool market in Norway are analysed in the context of the Capital Asset Pricing Model (CAPM) and a Fama & French three-factor model where contracts are separated based on their maturities. Looking into 1 month; 6 months and 12 months contracts, we...

In this study we examine how party size and dining time affect tipping behavior using data from a large-scale transaction database (n  800,000) for a Norwegian restaurant chain. The data consist of detailed information about meal and drink choices, party size, and dining time as well as total...

In this paper we propose a simple one-factor quantile regression model based on realized volatility to forecast Value-at-Risk (VaR). The model only uses daily realized volatility as input and thus simplifies estimation substantially compared with most other methodologies currently used to...

For fixed maturity, under the no-arbitrage assumption, futures prices should follow a martingale with respect to the trading time, at least under the pricing measure. Therefore, a prominent display of trading time seasonality under the physical measure raises warning signs and can only occur by...