Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...

This paper identifies key sources of policy uncertainty which can adversely affect investment in the electric power industry, covering both generation and network assets. We focus on asymmetric, systematic, non-diversifiable risk with spin-offs. In generation, a key uncertainty is the inability...

Voting rules over three or more alternatives suffer from a general problem of manipulability. However, if the rule is difficult to manipulate, in some formal computational sense that is intrinsic to the rule or some cognitive sense specific to the set of voters, then one might not observe...

This paper examines policy uncertainty adversely affecting investment in the electric power industry, covering generation and network assets. We focus on asymmetric, systematic, non-diversifiable risk with spin-offs. In generation, a key uncertainty is the inability of governments to refrain...

Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...

We study experimental multi-unit uniform and discriminatory auctions with demand uncertainty, motivated by the ongoing debate about market design in the electricity industry. We study the effect of asymmetric demand-information in the two auction institutions. In our treatment condition some...

One of the major criticisms of stated preference data is hypothetical bias. Using a unique data set of both stated and actual behavior we test for hypothetical bias of stated preference survey responses. We consider whether respondents tend to overstate their participatory sporting event...

Public funds to build sports stadiums are commonly justified by the perceived economic impacts and civic pride they create for the community. Since the 1980s, there have been many studies looking at the economic impact and civic pride created by professional sports teams. Most of the literature...