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The stochastic ray production frontier was developed as an alternative to the traditional output distance function to model production processes with multiple inputs and multiple outputs. Its main advantage over the traditional approach is that it can be used when some output quantities of some...
Persistent link: https://www.econbiz.de/10012101050
We derive and empirically apply an input-oriented distance function based on the stochastic ray production function suggested by L¨othgren (1997, 2000). We show that the derived ray-based input distance function is suitable for modeling production technologies based on logarithmic functional...
Persistent link: https://www.econbiz.de/10013259717
Analyzing commodity market dynamics, we observe that price volatility increases with reduced contract duration. In this paper, we derive a theoretical model depicting the price formation in two markets with altering product granularity. Supplemented by empirical evidence from German electricity...
Persistent link: https://www.econbiz.de/10011662286
Restricted participation in sequential markets may cause high price volatility and welfare losses. In this paper we therefore analyze the drivers of restricted participation in the German intraday auctin which is a short-term electricity market with quarter-hourly products. Applying a...
Persistent link: https://www.econbiz.de/10011776686
The literature on subjective well-being (SWB) and the environment has found robust evidence of positive net marginal SWB from pro-environmental behavior (PEB), that is, positive marginal SWB net of the associated costs in terms of money, time and effort (Finding 1). Accordingly, people could...
Persistent link: https://www.econbiz.de/10014316510
Vielen Menschen ist nicht bewusst, dass der Konsum von Fleisch für einen großen Teil der ernährungsbedingten Treibhausgasemissionen verantwortlich ist. Ungeachtet dessen sehen sich viele Menschen nicht in der Lage, ihren Fleischkonsum zu verringern. Vor diesem Hintergrund haben wir die...
Persistent link: https://www.econbiz.de/10014520270
The overestimation of willingness-to-pay (WTP) in hypothetical responses is a wellknown finding in the literature. Various techniques have been proposed to remove or, at least, reduce this bias. Using responses from a panel of about 6,500 German households on their WTP for a variety of power...
Persistent link: https://www.econbiz.de/10010352747
Die Überschätzung der Zahlungsbereitschaft in rein hypothetischen Entscheidungssituationen ist ein in der Literatur wohlbekanntes Phänomen. Zur Eliminierung dieser Verzerrung wurden verschiedene Methoden vorgeschlagen, unter anderem der sogenannte Cheap-Talk-Ansatz und das...
Persistent link: https://www.econbiz.de/10010352752
By using estimates from an Almost Ideal Demand System (AIDS), we investigate how the German energy tax on car fuels changes the private households-CO2 emissions, living standards, and post-tax income distribution. Our results show that the tax implies a trade-off between the aim to reduce...
Persistent link: https://www.econbiz.de/10010481535
Discrete-continuous models have become a common technique for addressing selectivity biases in data sets with endogenously partitioned observational units. Alternative two-stage approaches have been suggested by LEE (1983), DUBIN and MCFADDEN (1984), and DAHL (2002), all of which capture the...
Persistent link: https://www.econbiz.de/10011414659