This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

The aim of this paper is to look at the UK’s renewable energy policy in the context of its overall decarbonisation and energy policies. This will allow us to explore the precise nature of the ‘failure’ of UK renewables policy and to suggest policy changes which might be appropriate in...

Recent labour market research has shown that a good education comprises investment in both cognitive and non-cognitive skills. We examine the impact of a long-term programme designed to raise non-cognitive skills of children and adolescents in slums in Bombay. We use a cross-cutting design with...

Current methods of disseminating scholarly information focus on the use of journals who retain exclusive rights in the material they publish. Using a simple model we explore the reasons for the development of the traditional journal model, why it is no longer efficient and how it could be...

This paper shows a core-equilibrium convergence in a public goods economy where consumers' preferences display warm glow effects. We demonstrate that if each consumer becomes satiated to other consumers' provision, then as the economy grows large the core shrinks to the set of Edgeworth...

In-group favouritism behaviour is observed everywhere around the world and previous research has shown that this behaviour is also easily triggered in a laboratory in various contexts. However, little is known about why different magnitudes of in-group favouritism are observed across societies....

The literature shows that for most UK industries privatization might be necessary but is not sufficient to produce economic benefits. Often prior changes in management or later changes in market structure and regulation have larger impacts than privatization itself. We ask what changes around...

This paper reports results from a large recent study of the public domain in the European Union. Based on a combination of catalogue and survey data our figures for the number of items (and works) in the public domain extend across a variety of media and provide one of the first quantitative...

We formulate a series of stochastic models for committing and dispatching electric generators subject to transmission limits. The models are used to estimate the benefits of electricity locational marginal pricing (LMP) that arise from better coordination of day-ahead commitment decisions and...

Incentive regulation and efficiency analysis of network utilities often need to take the effect of important external factors, such as the weather conditions, into account. This paper presents a method for estimating the effect of weather conditions on the costs of electricity distribution...