The paper simulates how market power affects electricity retailing to households. A pseudo-random number seeding algorithm creates representative product differentiation in repeated drawings, for an incumbent and seven challengers. A ninth player competitor decides how to distinguish her product. The simulation creates an efficient starting market, adjusted for competitor dominance; and, over a...

In financial economics in general the objective function expresses the risk preferences of the decision maker, see for example the mean variance approach in portfolio theory. Only recently in inventory management instead of maximizing expected profit or minimizing expected cost risk-averse objective functions have been used for determining the optimal order quantity. Examples are the exponentia...

Under the situation of the furious compet.ition among the leasing companies, the important problem for a leasing company's management is to determine a lease charge on each lease contract suitably from the managemmt viewpoint. A lease charge is considered to be suitable when the leasing company can get an appropriate profit through the contract. But quite a lot of leasing companies adopt a full...

Performance-based regulation (PBR) is influenced by the Bayesian and non-Bayesian incentive mechanisms. While Bayesian incentives are impractical, the insights from their properties can be combined with practical non-Bayesian mechanisms for application to transmission pricing. This combination suggests an approach based on the distinction between ultra-short, short and long periods. Ultra-short...

In this paper we analyze the economic effects of implementing EPA’s newly proposed regulations for carbon dioxide (CO2) on existing U.S. coal-fired power plants using nonparametric methods on a sample of 144 electricity generating units. Moreover, we develop an approach for evaluating the economic gains from averaging emission intensities among the utilities’ generating units, compared to imple...

The predictive accuracy of various econometric models, including random walks, vector autoregressive and vector error-correction models, are investigated using daily futures prices of 4 commodities (the S&P500 index, treasury bonds, gold and crude oil). All models are estimated using a rolling window approach, and evaluated by both in-sample and out-of-sample performance measures. The criteria ...

The theoretical foundation for a number of model selection criteria is established in the context inhomogeneous point processes and under various asymptotic settings: infill, increasing domain combinations these. For Poisson we consider Akaike's information criterion Bayesian criterion, particular identify process analogue ‘sample size’ needed criterion. Considering general derive new composite...