We consider the problem of stopping a diffusion process with a payoff functional involving probability distortion. We study stopping decisions of naïve agents who reoptimize continuously in time, as well as equilibrium strategies of sophisticated agents who anticipate but lack control over their future selves’ behaviors.
Common dynamical properties of business cycle fluctuations are studied in a sample of more than 100 countries that represent economic regions from all around the world.
The CoCEB model is used to evaluate hypotheses on the long-term effect of investment in emission abatement, and on the comparative efficacy of different approaches to abatement. While many studies in the literature treat abatement costs as an unproductive loss of income, we show that mitigation costs do slow down economic growth over the...
Published in Energy Policy June 2017. This paper studies merger incentives for polluting Cournot firms under a competitive tradable emission permits market.
Published in Energy Policy - Vol 104 - May 2017. We study the importance in terms of CO2 emissions the extra amount of energy necessary to cover losses. With this purpose we use Spanish market and system data with hourly frequency from 2011 to 2013. Our results show that indeed electricity losses significantly...
The article examines whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matters for sovereign bonds markets. Using a panel regression model over a data set with 23 OECD countries from 2007 to 2012, it shows that ESG ratings significantly decrease government bond spreads.
No Upcoming Events found!