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Referierte Aufsätze Web of Science
The cross-border effects of a capacity market and a strategic reserve in interconnected electricity markets are modeled using an agent-based modeling methodology. Both capacity mechanisms improve the security of supply and reduce consumer costs. Our results indicate that interconnections do not affect the effectiveness of a capacity market, while a strategic reserve is affected negatively. The neighboring ...
In:
Utilities Policy
46 (2017), S. 33-47
| Pradyumna C. Bhagwat, Jörn Richstein, Emile J. L. Chappin, Kaveri K. Iychettira, Laurens J. de Vries
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Referierte Aufsätze Web of Science
The main objective of this paper is to compare the consequences of treating the attitudinal and perceptual indicators of hybrid discrete choice (HDC) models as continuous or ordinal outcomes. Based on tradition and computational reasons, such indicators are still predominantly treated as continuous outcomes in practice. This usually neglects their nature (as respondents are normally asked to state ...
In:
Journal of Choice Modelling
25 (2017), S. 28-39
| Francisco J. Bahamonde-Birke, Juan de Dios Ortúzar
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Referierte Aufsätze Web of Science
We analyze the effectiveness of a forward capacity market (FCM) with long-term contracts in an electricity market in the presence of a growing share of renewable energy. An agent-based model is used for this analysis. Capacity markets can compensate for the deteriorating incentive to invest in controllable power plants when the share of variable renewable energy sources grows, but may create volatile ...
In:
Energy Policy
111 (2017), S. 255-267
| Pradyumna C. Bhagwat, Anna Marcheselli, Jörn Richstein, Emile J. L. Chappin, Laurens J. de Vries
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Referierte Aufsätze Web of Science
We present an approach to simulate climate and energy policy for the EU, using a flexible and modular agent-based modelling approach and a toolbox, called the Energy Modelling Laboratory (EMLab). The paper shortly reviews core challenges and approaches for modelling climate and energy policy in light of the energy transition. Afterwards, we present an agent-based model of investment in power generation ...
In:
Environmental Modelling & Software
96 (2017), S. 421-431
| Emile J. L. Chappin, Laurens J. de Vries, Jörn Richstein, Pradyumna Bhagwat, Kaveri Iychettira, Salman Khan
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Referierte Aufsätze Web of Science
This paper characterizes capital taxation and public debt policy in a quantitative macroeconomic model with an impatient government and uncertainty. The government has access to linear taxes on capital and labor, and to non-state-contingent bonds. Government impatience generates positive and empirically realistic long-run levels of both capital taxes and public debt. Prior predictive analysis shows ...
In:
Journal of Economic Dynamics & Control
85 (2017), S. 1-20
| Malte Rieth
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Referierte Aufsätze Web of Science
Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 – Q4 2015 under present short-term profit maximisation and different competition setups. Although the model performs reasonably well in explaining pre-2014 prices, all setups fail to capture ...
In:
Energy Policy
111 (2017), S. 166-178
| Dawud Ansari
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Referierte Aufsätze Web of Science
Despite increasing access to university education, students from disadvantaged or non-academic family backgrounds are still underrepresented in universities. In this regard, the economics literature has focused on the role of financial constraints as a cause of these observed differences in educational choices. Our knowledge of potential effects of other constraints regarding university education is ...
In:
Economics of Education Review
60 (2017), S. 125-141
| Frauke H. Peter, Vaishali Zambre
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Referierte Aufsätze Web of Science
Using panel data from the UK, we study the long-term effect of purchase decisions of automobiles on individuals’ happiness. We find a significant and sizable decrease in individual happiness in the years after a car purchase. We develop a model of hedonic adaptation that can explain these results. Applying the model to the data indicates a strong degree of habit persistence of around 80%, and that ...
In:
Journal of Economic Psychology
61 (2017), S. 29-38
| Johannes Emmerling, Salmai Qari
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Referierte Aufsätze Web of Science
In structural vector autoregressive analysis identifying the shocks of interest via heteroskedasticity has become a standard tool. Unfortunately, the approaches currently used for modeling heteroskedasticity all have drawbacks. For instance, assuming known dates for variance changes is often unrealistic while more flexible models based on GARCH or Markov switching residuals are difficult to handle ...
In:
Journal of Economic Dynamics & Control
84 (2017), S. 43-57
| Helmut Lütkepohl, Aleksei Netsunajev
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Referierte Aufsätze Web of Science
The study investigates whether sickness absence is stratified by job level - understood as the authority and autonomy a worker holds – beyond the association with education, income, and occupation. A second objective is to establish the moderating role of gender and occupational gender composition on this stratification of sickness absence. Four competing hypotheses are developed that predict different ...
In:
Social Science & Medicine
186 (2017), S. 1-9
| Hannes Kröger