This paper analyses an electricity market in which a monopolist that employs fossil-fuel base-load and peak-load technologies competes against a fringe of renewable energy (RE) generators. The optimal technology and electricity mix can be decentralised by levying technology-dependent capacity...

Aging changes the political power in a democracy in favor of the elder generations. Consequently, the retirees can extend the pay-as-you-go financed pensions. Under free labor mobility like within the EU, the success of gerontocracy is restricted by migration of the young generations. This...