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könnte der Sojabohne perspektivisch eine bedeutende Rolle in hiesigen Fruchtfolgen zukommen - zumindest südlich einer Linie … attraktiv sind. In den nördlicheren Regionen sind die Bedingungen in der Regel noch etwas schlechter, so dass die Sojabohne dort … häufig noch nicht konkurrenzfähig ist. Die Potenziale der Sojabohne für eine gesündere Fruchtfolge können flächendeckend nur …
Persistent link: https://www.econbiz.de/10012496050
Bayesian inference in a time series model provides exact, out-of-sample predictive distributions that fully and coherently incorporate parameter uncertainty. This study compares and evaluates Bayesian predictive distributions from alternative models, using as an illustration five alternative...
Persistent link: https://www.econbiz.de/10011605015
Persistent link: https://www.econbiz.de/10010301092
Gegenstand des Beitrages sind die Umstrukturierungen der Stromwirtschaft in Kalifornien. Im Gefolge der Entwicklungen auf der Bundesebene - dem Energy Policy Act von 1992 und der neueren Politik der Federal Energy Regulatory Commission - hat die kalifornische Regulierungskommission Maßnahmen...
Persistent link: https://www.econbiz.de/10010275274
Money manager capitalism - characterized by highly leveraged funds seeking maximum returns in an environment that systematically underprices risk - has resulted in a series of boom-and-bust cycles in equities, real estate, and commodities. Because subsequent cycles have been increasingly...
Persistent link: https://www.econbiz.de/10010280270
In January 2007, first evidence of an asymmetric pass-through of CO2 emission allowance prices was reported for the German electricity spot market. This paper explores the theoretical basis for such an asymmetry in the context of a supply function bidding duopoly. It interprets fluctuating...
Persistent link: https://www.econbiz.de/10010298051
This paper characterizes the Nash equilibrium in a pay-as-bid (discriminatory), divisible-good, procurement auction. Demand by the auctioneer is uncertain as in the supply function equilibrium model. A closed form expression is derived. Existence of an equilibrium is ensured if the hazard rate...
Persistent link: https://www.econbiz.de/10010320254
In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction, and the market is cleared at the price of the most expensive offer needed to meet realised demand. Such markets can most elegantly be modelled as the pure-strategy, Nash...
Persistent link: https://www.econbiz.de/10010320261
We study the impact of exchange rate risk on an exporting firm in a developing country when there is no forward market in the foreign currency. However there exists a forward traded asset in this country the price of which is highly correlated to the foreign currency. By indirectly hedging its...
Persistent link: https://www.econbiz.de/10010398039
In liberalized electricity markets strategic firms compete in an environment characterized by fluctuating demand and non-storability of electricity. While spot market design under those conditions by now is well understood, a rigorous analysis of investment incentives is still missing. Existing...
Persistent link: https://www.econbiz.de/10010427559