This paper studies international trade in equipment used in the combustion of fossil fuels. Informed by a theoretical analysis, we identify a type of technology leakage hitherto unexplored in the literature: a country’s ...

This paper presents a simple and intuitive approximation of the American call and put value. The approximation generalizes the Bjerksund-Stensland model by dividing time to maturity into two periods, each with a flat early ...

In this paper we apply the so-called partition function approach to study coalition formation in the North-east Atlantic mackerel fishery in the presence of externalities. Atlantic mackerel is mainly exploited by the ...

We study committees whose task is to make a binary decision where the correct decision depends on the state of the world that is imperfectly known. Committee members can exert effort to learn about the true state of the ...

Europe is currently in the process of executing a strategy to increase the share of renewable energy in its electricity mix. However, concerns about energy system instability, higher transmission costs, and energy security ...

We suggest a simple asset market model in which we analyze competitive and strategic behavior simultaneously. If for competitive behavior two-fund separation holds across periods then it also holds for strategic behavior. ...

The question of how effective protection against environmental impairment can be provided has spawned much literature. One instrument that is often invoked to provide compensation for environmental damage is insurance. ...

In this paper, we investigate methods for managing congestion on the grid in the Nordic power market. Specifically, we have considered the differences between using counter purchases as opposed to pricing out the transmission ...