The scarcity of water resources and supply resources limitation, have caused an increasing gap between water supply and demand specially in recent decades in almost all regions of the globe. One of the best known solutions proposed by the economists is using the different water pricing approaches thereby obtaining the optimal allocation and social justice. To this purpose, this paper uses the p...

We theoretically analyze how index investing affects financial markets using a dynamic exchange economy with heterogeneous investors and two Lucas trees. identify effects of indexing: lockstep trading stocks increases market volatility stock return correlations but reduction in risk sharing decreases them. Overall, indexing has an ambiguous effect on the correlations. Also, investor’s welfare, ...

This paper proposes an index for nodal market power detection in power market under locational marginal pricing (LMP). This index is an ex-ante technique to detect the market power. More precisely, this criterion detects the potential of exercising market power regardless of detecting the actual market power. Also it is obvious that pricing and market clearing method affect the potential of exe...

Most of the irrigated agricultural regions in Europe are supplied by surface irrigation networks managed by local water authorities (WAs). Under such conditions, WAs are not able to fully monitor water usage and farmers have an information advantage vis-a-vis the WA. This results in the water authority suffering ‘pricing failure’ if it decides to apply an incentive pricing strategy (tariffs pro...