In the course of the liberalization of the European energy markets, the German government opted – diverging from all other European countries – for Negotiated Third-Party Access. In this article we analyze if this institutional regime could theoretically lead to efficient market outcomes. Above that, we empirically review whether certain aspects of the actual implementation, the publication of ...

A perpetual youth overlapping generations model is presented in which the presence of financial frictions can create the crowd-in effect of asset bubbles that promotes capital accumulation. The existence of asset bubbles increases the equilibrium interest rate. Although the increased interest rate excludes less productive agents from production activity, these agents benefit from the liquidity ...

This paper develops a tractable method for resolving the equity-efficiency tradeoff that modifies the Kaldor-Hicks compensation principle to account for the distortionary cost of redistribution. Weighting measures of individual surplus by the inequality deflator corresponds to searching for local Pareto improvements by making transfers through the income tax schedule. Empirical evidence consist...

We extend the equivalence between Bayesian and dominant strategy implementation established by Gershkov et al. (Econometrica, 2013) to environments with non-linear utilities satisfying the property of increasing differences over distributions and the convex-valued assumption. The new equivalence result produces novel implications to the literature on the principal-agent problem with allocative ...

A self-adaptive Pareto Evolutionary Multi-objective Optimization (EMO) algorithm is proposed for evolving controllers for a virtually embodied robot. The main contribution of the self-adaptive Pareto approach is its ability to produce controllers with different locomotion capabilities in a single run, therefore reducing the evolutionary computational cost significantly. The aim of this paper is...

Incentive regulation is designed to improve productive efficiency, enhance service quality and consumer welfare, and reduce the costs of regulation. The issue that is considered here is whether incentive regulation in the form of a price cap applicable to interstate access service to local loops in the telecommunications industry in the United States has resulted in an increase in the technical...

We study equilibrium prices and trade volume in a market with n identical buyers and a seller who initially commits to some capacity. Sales are sequential and each price is determined by strategic bargaining. A unique subgame perfect equilibrium exists. It is characterized by absence of costly bargaining delays and each trade is settled at a different price. Prices increase with n and fall in t...

in this research, energetic andexergetic analysis of calcium oxide formation, co2 emissions, andenvironmental effects during the clinker production process in rotary kilnare investigated. first the energy and exergy analysis of rotary kiln were carried out according to the first and second law of thermodynamics based on dead state, respectively. consequently, the amount of co2 emissions associa...

nineteen bread wheat genotypes were selected to examine the effect of glycine betaine (gb, 100 mm) on various photosynthetic gas exchange parameters under drought stress and to study the relationship of these parameters with non-enzymatic antioxidants. drought stress caused a significant decline in net co2 assimilation rate (pn), stomatal conductance (gs), intercellular co2 concentration (ci) a...

introduction: the human resources are considered the main asset of any society. if used properly and effectively, it will create other sources and above all the added value. the quality of the life is usually dependent on the quality of human professional life including factors such as job security, services and welfare pensions, health services, income, and job quality. the purpose of this stu...