This paper analyzes the dynamic behavior of day-ahead spot prices in the German electricity spot market due to positive structural shocks in wind and solar power. It uses a dynamic structural vector autoregressive model to estimate the related structural impulse response functions. The estimates...

Recent years have seen a sharp increase in the use of subjective well-being data in environmental economics. This article discusses the conceptual underpinnings of using such data as a tool for preference elicitation and non-market valuation. Given the connection of those data to the notion of...

This paper empirically investigates the biogeographic determinants of the human DRD4 exon III locus, a particular gene variant associated with the human personality trait of novelty-seeking behavior. Providing a novel compilation of worldwide DRD4 exon III allele frequencies in a large sample of...

Climate change poses a new challenge in particular to long-lasting electricity networks. At the same time, this industry is highly regulated, which greatly affects the behavior of network operators. In this paper, the impact of regulation in general and of the German electricity grid regulation...

Electricity from renewable sources avoids the disadvantages of conventional power generation (air pollution, greenhouse gases, nuclear risk) but often meets with local resistance due to visual, acoustic, and odor nuisance. We use representative panel data on the subjective well-being of 36,475...

Large-scale social surveys typically elicit levels of happiness and/or life satisfaction. This paper studies how such reports of happiness and life satisfaction are related to measures of positive affect (PA) and negative affect (NA). Major findings are the following: (1) PA and NA levels...

A central question in climate policy is whether early investments in low-carbon technologies are a useful first step towards a more effective climate agreement in the future. We introduce a climate cooperation model with endogenous R&D investments where countries protect their international...

We show that imposition of a state-level environmental tax in a federation crowds out preexisting federal taxes. We explain how this vertical fiscal externality can lead unilateral statelevel environmental policy to generate a welfare gain in the implementing state, at the expense of other...

Mainstream economic wisdom favoring cooperative free trade is challenged by a wave of disruptive trade policies. In this paper, we provide quantitative evidence concerning the economic impacts of tariffs implemented by the United States in 2018 and the subsequent retaliations by partner...

I study how the distribution of environmental goods and income affect the economic valuation of local public goods. I find that how environmental inequality affects societal willingness to pay (WTP) for environmental local public goods is determined by their substitutability as well as by how...