• Real-time versus day-ahead market power in a hydro-based electricity market 

      Tangerås, Thomas P.; Mauritzen, Johannes (Discussion paper;06/14, Working paper, 2014-02)
      We analyse in a theoretical framework the link between real-time and day-ahead market performance in a hydro-based and imperfectly competitive wholesale electricity market. Theoretical predictions of the model are tested ...
    • Recursive utility and disappearing puzzles for continuous-time models 

      Aase, Knut K. (Discussion papers;2013/02, Working paper, 2013-05)
      Motivated by the problems of the conventional model in rational- izing market data, we derive the equilibrium interest rate and risk premiums using recursive utility in a continuous time model. Two ordinally equivalent ...
    • Recursive utility and jump-diffusions 

      Aase, Knut K. (Discussion paper;09/14, Working paper, 2014-03)
      We derive the equilibrium interest rate and risk premiums using recursive utility for jump-di usions. Compared to to the continuous version, including jumps allows for a separate risk aversion related to jump size risk ...
    • Recursive utility and jump-diffusions 

      Aase, Knut K. (Discussion paper;06/15, Working paper, 2015-01-30)
      We derive the equilibrium interest rate and risk premiums using recursive utility for jump-diffusions. Compared to to the continuous version, including jumps allows for a separate risk aversion related to jump size risk ...
    • Recursive utility and the equity premium puzzle: A discrete-time approach 

      Aase, Knut K. (Discussion papers;2013/03, Working paper, 2013-05)
      We study the Epstein-Zin model with recursive utility. Recognizing that recursive preferences implies that the underlying model is not Markovian, we use methods not depending upon the Markov property to solve the model. ...
    • Recursive utility using the stochastic maximum principle 

      Aase, Knut K. (Discussion paper;03/14, Working paper, 2014-02)
      Motivated by the problems of the conventional model in rationalizing market data, we derive the equilibrium interest rate and risk premiums using recursive utility in a continuous time model. We consider ...
    • Redistributive taxation, multinational enterprises, and economic integration 

      Haufler, Andreas; Klemm, Alexander; Schjelderup, Guttorm (Discussion paper, Working paper, 2008-03)
      Increased activity of multinational firms exposes national corporate tax bases to cross-country profit shifting, but also leads to rising profitability of the corporate sector. We incorporate these two effects of economic ...
    • Reflections about pseudo-dual prices in combinatorial auctions 

      Drexl, Andreas; Jörnsten, Kurt (Discussion paper, Working paper, 2005-04)
      Combinatorial auctions permitting bids on bundles of items have been developed to remedy the exposure problem associated with single-item auctions. Given winning bundle prices a set of item prices is called market clearing ...
    • A regression surprise resolved 

      Lillestøl, Jostein; Andersson, Jonas (Discussion paper, Working paper, 2008-09)
      In this note we explore the following surprising fact: In regression with trend and seasonality, the prediction risk is constant for all seasons of a new cycle, despite the fact that it increases with time when the seasons ...
    • Relational Contracting, Negotiation, and External Enforcement 

      Miller, David; Olsen, Trond E.; Watson, Joel (Discussion paper;8/18, Working paper, 2018-05-18)
      We study relational contracting and renegotiation in environments with external enforcement of long-term contractual arrangements. An external, long-term contract governs the stage games the contracting parties will play ...
    • Relational Incentive Contracts and Performance Measurement 

      Chi, Chang Koo; Olsen, Trond E. (Discussion paper;6/18, Working paper, 2018-04-30)
      This paper analyzes relational contracts under moral hazard. We first show that if the available information (signal) about effort satisfies a generalized monotone likelihood ratio property, then irrespective of whether ...
    • Relational incentive contracts for teams of multitasking agents 

      Kvaløy, Ola; Olsen, Trond E. (Discussion paper;10/23, Working paper, 2023-06-30)
      We analyze optimal relational contracts for a group (team) of multitasking agents with hidden actions. Contracts are based on noisy signals that may be correlated across agents and between tasks. The optimal contract defines ...
    • Relationship-specificity, bargaining power, growth, and firm performance 

      Bragelien, Iver; Impink, Joost (Discussion paper;04/14, Working paper, 2014-02)
      We investigate the relevance of relationship-specificity in explaining firm performance and firm value. First, we use an incomplete contracts model to derive hypotheses on how relationship-specificity interacts with ...
    • Relative performance evaluation, agent hold-up and firm organization 

      Kvaløy, Ola; Olsen, Trond E. (Discussion paper, Working paper, 2007-07)
      We analyze a situation where common noise makes compensation based on relative performance evaluation (RPE) desirable, but where the agents' ability to hold-up values ex post obstruct the implementation of optimal RPE ...
    • Replication/prediction problems in the journey-to-work 

      Jörnsten, Kurt; Thorsen, Inge; Ubøe, Jan (Discussion paper, Working paper, 2002)
      In this paper we will consider gravity models for journeys-to-work. In applications of the theory it is sometimes assumed that the parameters in such models are fixed. We will provide examples to show that this is not ...
    • Representation of preferences á la Savage with a general probability measure 

      Aase, Knut K. (Discussion paper, Working paper, 2001-10)
      This paper addresses two weaknesses of the subjective expected utility representation of Savage: The first is that the resulting subjective probability measure P is atomless only, the second is that P is only finitely ...
    • Rethinking how to support intermittent renewables 

      Narbel, Patrick A. (Discussion paper;17/14, Working paper, 2014-04)
      Intermittent renewable energy sources, including solar and wind power, typically remain more expensive than conventional power sources. As a consequence, few intermittent power projects would have been deployed if speci ...
    • Revelation of preferences in patient list data 

      Ubøe, Jan; Lillestøl, Jostein (Discussion paper, Working paper, 2007)
      In this paper we will show how the patient list model in Ubøe & Lillestøl (2007) can be used to infer strength of preferences from patient list data. We prove that we can construct unique sets of preferences that replicates ...
    • Revelation of preferences in trip distribution models 

      Jörnsten, Kurt; Thorsen, Inge; Ubøe, Jan (Discussion paper, Working paper, 2007)
      In this paper we will see how commuter preferences can be revealed from observations of trip distributions. We will explain how to find unique representations of preference structures leading to an observed trip distribution, ...
    • Revenue cap regulation in a deregulated electricity market : effects on a grid company 

      Bjørndal, Mette; Jörnsten, Kurt (Discussion paper, Working paper, 2001)
      In Norway, an incentive-based regulation of electricity distribution companies, based on revenue caps, was introduced in 1997. The revenues are adjusted annually, and the new revenue cap is determined on the basis of last ...