Unraveling the Chinese Oil Puzzle
Posted on January 6th, 2022 by tagadminAs oil prices rose in 2004, a large part of the blame was laid at the feet of the emerging […]
READ moreGasoline Price Spikes and Regional Gasoline Content Regulations: A Structural Approach
Posted on January 6th, 2022 by tagadminSince 1999, gasoline prices in California, Illinois and Wisconsin have spiked occasionally well above gasoline prices in nearby states. In […]
READ moreElectricity Transmission Pricing: How Much Does it Cost to Get It Wrong?
Posted on January 6th, 2022 by tagadminEconomists know how to calculate optimal prices for electricity transmission. These are rarely applied in practice. This paper develops a […]
READ moreThe Chicago VOC Trading System: The Consequences of Market Design for Performance
Posted on January 6th, 2022 by tagadminThe Chicago cap-and-trade approach to regulating stationary source VOC emissions in the Chicago ozone non-attainment area is a pioneering program […]
READ moreDoes Competition Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency
Posted on January 6th, 2022 by tagadminAlthough the allocative efficiency benefits of competition are a tenet of microeconomic theory, the relation between competition and technical efficiency […]
READ moreTransmission Policy in the United States
Posted on January 6th, 2022 by tagadminThis paper provides an overview of the development of electric power transmission access, pricing and investment policies in the U.S. […]
READ moreElectricity Reform in Chile: Lessons for Developing Countries
Posted on January 6th, 2022 by tagadminChile was the first country in the world to implement a comprehensive reform of its electricity sector in the recent […]
READ morePollution Markets with Imperfectly Observed Emissions
Posted on January 6th, 2022 by tagadminI study the advantages of pollution permit markets over traditional standard regulations when the regulator has incomplete information on firms’ […]
READ moreMarket Power in the England and Wales Wholesale Electricity
Posted on January 6th, 2022 by tagadminThis paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second […]
READ moreForward Trading and Collusion in Oligopoly
Posted on January 6th, 2022 by tagadminWe consider an infinitely-repeated oligopoly in which at each period firms not only serve the spot market by either competing […]
READ moreDid English Generators Play Cournot? Capacity Withholding in the Electricity Pool
Posted on January 6th, 2022 by tagadminElectricity generators can raise the price of power by withholding their plant from the market. We discuss two ways in […]
READ moreRetail Electricity Competition
Posted on January 6th, 2022 by tagadminWe analyze a number of unstudied aspects of retail electricity competition. We first explore the implications of load profiling of […]
READ moreReliability and Competitive Electricity Markets
Posted on January 6th, 2022 by tagadminDespite all of the talk about “deregulation” of the electricity sector, a large number of non-market mechanisms have been imposed […]
READ moreDid the Clean Air Act Cause the Remarkable Decline in Sulfur Dioxide Concentrations?
Posted on January 6th, 2022 by tagadminOver the last three decades, ambient concentrations of sulfur dioxide (SO2) air pollution have declined by approximately 80%. This paper […]
READ moreAir Quality, Infant Mortality, and the Clean Air Act of 1970
Posted on January 6th, 2022 by tagadminWe examine the effects of total suspended particulates (TSPs) air pollution on infant health using the air quality improvements induced […]
READ moreA Note on Market Power in an Emission Permits Market with Banking
Posted on January 6th, 2022 by tagadminIn this paper, we investigate the effect of market power on the equilibrium path of an emission permits market in […]
READ moreThe Option to Try Again: Valuing a Sequence of Dependent Trials
Posted on January 6th, 2022 by tagadminIn various fields of economic endeavor, agents enjoy the option to “try, try again.” Failure in a particular pursuit often […]
READ moreManaging a Portfolio of Real Options: Sequential Exploration of Dependent Prospects
Posted on January 6th, 2022 by tagadminWe consider the impact of sequential investment and active management on the value of a portfolio of real options. The […]
READ moreInternational Market Intergration for Natural Gas? A Cointergration Analysis of Prices in Europe, North America, and Japan
Posted on January 6th, 2022 by tagadminWe examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990’s and […]
READ moreThe Sources of Emission Reductions: Evidence from U.S. SO2 Emissions from 1985 through 2002
Posted on January 6th, 2022 by tagadminAn enduring issue in environmental regulation is whether to clean up existing “old” plants or in some manner to bring […]
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