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Reflections on Implementing EU ETS : Pricing Carbon: The European Union Emissions Trading Scheme. A Denny Ellerman ... , Cambridge University Press, New York 2010, 390 pp: Book Review

Detecting Illegal Activities: The Case of Cartels

This paper considers enhancements of a comparatively new method to detect cartels, the System of Cartel Markers (SCM), introduced by Blanckenburg and Geist (Int Adv Econ Res 15(4):421-436, 2009). The aim of SCM is to find illegal collusion on legal markets with observable market data. It uses expected behavior patterns such aslow level of capacity utilization, slackness of price adjustments to exogenous ...

A Dynamic Incentive Mechanism for Transmission Expansion in Electricity Networks: Theory, Modeling, and Application

We propose a price-cap mechanism for electricity-transmission expansion based on redefining transmission output in terms of financial transmission rights. Our mechanism applies the incentive-regulation logic of rebalancing a two-part tariff. First, we test this mechanism in a three-node network. We show that the mechanism intertemporally promotes an investment pattern that relieves congestion, increases ...

Refunding ETS Proceeds to Spur the Diffusion of Renewable Energies: An Analysis Based on the Dynamic Oligopolistic Electricity Market Model EMELIE

We use a quantitative electricity market model to analyze the welfare effects of refunding a share of the emission trading proceeds to support renewable energy technologies that are subject to experience effects. We compare effects of supporting renewable energies under both perfect and oligopolistic competition with competitive fringe firms and emission trading regimes that achieve 70 and 80% emission ...

Technology Licensing by Advertising Supported Media Platforms: An Application to Internet Search Engines

We develop a duopoly model with advertising supported platforms and analyze incentives of a superior firm to license its advanced technologies to an inferior rival. We highlight the role of two technologies characteristic for media platforms: the technology to produce content and to place advertisements. Licensing incentives are driven solely by indirect network effects arising from the aversion of ...

Incentives for Transmission Investment in the PJM Electricity Market: FTRs or Regulation (or Both?)

This paper presents an application of a mechanism that provides incentives to promote transmission network expansion in the area of the US electric system known as PJM. The applied mechanism combines the merchant and regulatory approaches to attract investment into transmission grids. It is based on rebalancing a two-part tariff in the framework of a wholesale electricity market with locational pricing. ...

The Impact of Household Capital Income on Income Inequality: A Factor Decomposition Analysis for the UK, Germany and the USA

This paper analyses the contribution of capital income to income inequality in a cross-national comparison. Using micro-data from the Cross-National Equivalent File (CNEF) for three prominent panel studies, namely the BHPS for the UK, the SOEP for West Germany, and the PSID for the USA, we use the factor decomposition method described by Shorrocks (Econometrica 50:193-211, 1982). The factor decomposition ...

Terror and Human Insecurity: Editoral Introduction

We identify research gaps and recent contributions in the economics of terror. We focus on the human drivers of insecurity as a key topic. Insecurity shapes growth, perceptions of individuals, and policy responses. The economics of security policies remains large under-researched.

Entrepreneurship: The Role of Extreme Events

We use aggregate country data as well as individual surveys to uncover, for the first time, the effect of extreme events such as natural disasters and terrorist attacks on entrepreneurial activity. We find that natural disasters and terrorist attacks influence individual perceptions of the rewards to entrepreneurship and, more surprisingly, extreme events affect entrepreneurship rates positively in ...

Perceptions and Attitudes Following a Terrorist Shock: Evidence from the UK

Transnational terrorism in Western countries has raised questions about security measures that constrain civil liberties. This is the first paper that uses a terrorist attack, that in the London 7/7/2005, as an exogenous source of variation to study the dynamics of risk perception and the effect on the readiness to trade off civil liberties for enhanced security. In this framework we show that willingness ...