Renewable electricity policies promote investment in renewable electricity generators and have become increasingly common around the world. Because of intermittency and the composition of other generators in the power system, the value of certain renewables—particularly wind and solar—varies across locations and technologies. This paper investigates the implications of this heterogeneity for th...

A Farmer-type Keynesian model is constructed to explore and exposit Keynesian ideas. The modeling innovation is to integrate Farmer’s approach with monetary exchange and to derive optimal monetary and fiscal policies. Two approaches are taken to optimal policy an approach in the spirit of New Keynesian sticky-wage-and-price models, and an a "sophisticated policy" approach. Optimal policies typi...

While selfish routing has been studied extensively, the problem of designing better coordination mechanisms for routing over time in general graphs has remained an open problem. In this paper, we focus on tree networks (single source multiple destinations) with the goal of minimizing (weighted) average sojourn time of jobs, and provide the first coordination mechanisms with provable price of an...

Public policies designed to dramatically raise the price of high-fat and high-sugar foods have received substantial attention from researchers and the media. Although econometric studies suggest that these policies could reduce obesity rates, they are likely to face substantial public opposition. This study used the theory of perceived responsibility and social motivation as a framework to anal...

This paper uses annual data from 1980-1998 to test two models of the relationship between wholesale and retail marijuana prices. Results from regressions of retail prices on wholesale prices reject a multiplicative model, in which the difference in prices between levels is proportional to the wholesale price, in favor of an additive model, in which the price difference is a fixed amount. This f...

We construct an inÞnite horizon consumption model and use it to deÞne and analyze addiction. Consumption is compulsive if it differs from what the individual would have chosen had commitment been available. A good is addictive if its consumption leads to more compulsive consumption of the same good in the future. We analyze two types of drug policies. A policy is prohibitive if it decreases the...

The objective of this study was to provide conservative estimates of the global and regional effectiveness and cost-effectiveness of tobacco control policies. Using a static model of the cohort of smokers alive in 1995, we estimated the number of smoking-attributable deaths that could be averted by: (1) price increases, (2) nicotine replacement therapy (NRT), and (3) a package of non-price inte...

Chapter 12 presents the technical analysis of both expansionary/contractionary fiscal/monetary policy or their policy mix in the framework of Keynesian Theory. As you’ll see in Chapter 13, both Fiscal and Monetary Policies are used to target aggregate expenditure (called aggregate demand when price level is allowed to float)so as to change the equilibrium level of income.Remember, all the concl...

BACKGROUND Although pricing policies for alcohol are known to be effective, little is known about how specific interventions affect health-care costs and health-related quality-of-life outcomes for different types of drinkers. We assessed effects of alcohol pricing and promotion policy options in various population subgroups. METHODS We built an epidemiological mathematical model to appraise ...

We investigated the inter-day effects of price limits policies that are employed in agent-based simulations. To isolate the impact of price limits from the impact of other factors, we built an artificial stock market with higher frequency price limits hitting. The trading mechanisms in this market are the same as the trading mechanisms in China's stock market. Then, we designed a series of simu...