Since 1999, gasoline prices in California, Illinois and Wisconsin have spiked occasionally well above gasoline prices in nearby states. In […]
READ moreAs oil prices rose in 2004, a large part of the blame was laid at the feet of the emerging […]
READ moreEconomists know how to calculate optimal prices for electricity transmission. These are rarely applied in practice. This paper develops a […]
READ moreThe Chicago cap-and-trade approach to regulating stationary source VOC emissions in the Chicago ozone non-attainment area is a pioneering program […]
READ moreAlthough the allocative efficiency benefits of competition are a tenet of microeconomic theory, the relation between competition and technical efficiency […]
READ moreThis paper provides an overview of the development of electric power transmission access, pricing and investment policies in the U.S. […]
READ moreElectricity generators can raise the price of power by withholding their plant from the market. We discuss two ways in […]
READ moreWe consider an infinitely-repeated oligopoly in which at each period firms not only serve the spot market by either competing […]
READ moreThis paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second […]
READ moreI study the advantages of pollution permit markets over traditional standard regulations when the regulator has incomplete information on firms’ […]
READ moreChile was the first country in the world to implement a comprehensive reform of its electricity sector in the recent […]
READ moreWe analyze a number of unstudied aspects of retail electricity competition. We first explore the implications of load profiling of […]
READ moreDespite all of the talk about “deregulation” of the electricity sector, a large number of non-market mechanisms have been imposed […]
READ moreOver the last three decades, ambient concentrations of sulfur dioxide (SO2) air pollution have declined by approximately 80%. This paper […]
READ moreWe examine the effects of total suspended particulates (TSPs) air pollution on infant health using the air quality improvements induced […]
READ moreIn this paper, we investigate the effect of market power on the equilibrium path of an emission permits market in […]
READ moreIn various fields of economic endeavor, agents enjoy the option to “try, try again.” Failure in a particular pursuit often […]
READ moreWe consider the impact of sequential investment and active management on the value of a portfolio of real options. The […]
READ moreWe examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990’s and […]
READ moreAn enduring issue in environmental regulation is whether to clean up existing “old” plants or in some manner to bring […]
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