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convexity and efficient set characterization results on SD efficiency of a given portfolio relative to adiversified set of … Post (2003) and expand the SSD efficiency criteriadeveloped by Dybvig and Ross (1982) onto the Third Order Stochastic …
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-to-poorer transfers that preserve the overall efficiency of the distribution. This transfer principle - together with the basic axioms of …
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We present a pragmatic approach to calculating the total economic loss induced by a cartel, focusing on the European trucks cartel (1997-2011). Overall, we estimate a net welfare loss of approximately €0.7 bn. and an overcharge below 1% (€1.8 bn.). The cartel overcharge is surprisingly low....
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Long-term scenarios of the low-carbon energy transformation in Europe are quite diverse. In this chapter, we provide a detailed discussion of scenarios leading to a far-reaching decarbonization of the European energy system to 2050. We use an updated version of the Global Energy System Model...
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