This paper analyzes the valuation of day-ahead Physical Transmission Rights (PTRs) on the German-Dutch interconnector. From a financial perspective, PTRs are options written on the difference between the German and Dutch hourly electricity prices. We propose a model for the valuation of...

Conducting a stated choice experiment on German retail investors, we analyze how market participants use and react to sustainability information. We find that the general avoidance of assets with lagging sustainability records is more meaningful to investors than the focus on financial...