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Private Toll Roads: A Dynamic Equilibrium Analysis

Lindsey, Robin; de Palma, André - 1997

In recent years there has been a surge of interest in private toll roads as an alternative to public free-access road infrastructure. Private toll roads have gained favour for a variety of reasons, including theirpotential to alleviate traffic congestion, shrinking public funds for road...

Persistent link: https://www.econbiz.de/10010324444

Competition Policy in an Open Economy

Francois, Joseph F.; Horn, Henrik - 1998

We examine the setting of national competition policy in a two-country setting,emphasizing the relationship of trade to the goals of competition policy (suchas the degree and nature of competition). The issues we address involve thegeneral equilibrium distributional effects of competition...

Persistent link: https://www.econbiz.de/10010324446

Efficiency in Auctions with Private and Common Values: An Experimental Study

Goeree, Jacob K.; Offerman, Theo - 2000

Auctions are generally not efficient when the object's expected value depends on private and common value information. We report a series of first-price auction experiments to measure the degree of inefficiency that occurs with financially motivated bidders. While some subjects fall prey to the...

Persistent link: https://www.econbiz.de/10010324447

How important are Institutions for Growth in Transition Countries?

Moers, Luc - 1999

Growth empirics with institutional measures is performed for 25 transition countries overthe period 1990-95. Estimation results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment (FDI), the latter in turnbeing important for the...

Persistent link: https://www.econbiz.de/10010324449

Perseverance of Perverse Subsidies and their Impact on Trade and the Environment

van Beers, Cees; van den Bergh, Jeroen C.J.M. - 2000

Theoretical and empirical aspects of policy failures due to subsidies are discussed in the context of international trade. A general classification of subsidies that cause environmental externalities is presented. The economic and environmental impacts of producer subsidies on international...

Persistent link: https://www.econbiz.de/10010324451

Cycles and Multiple Equilibria in the Market for Durable Lemons

Janssen, Maarten C.W.; Karamychev, Vladimir - 2000

We investigate the nature of market failure in a dynamic version ofAkerlof (1970) where identicalcohorts of a durable good enter the market over time. In the dynamicmodel, equilibria withqualitatively different properties emerge. Typically, in equilibriaof the dynamic model, sellerswith higher...

Persistent link: https://www.econbiz.de/10010324453

The EURO, Prudent Coherence?

Arnold, Ivo J.M.; de Vries, Casper G. - 1998

A flurry of recent articles has argued on the basis of constructed European widemonetary aggregates that the demand for EURO's will be more stable than thecurrent demand for national currencies. In policy circles this seeminglymoderating effect of monetary integration figures as an additional...

Persistent link: https://www.econbiz.de/10010324454

Models of Individual Behavior and Implications for Environmental Policy

van den Bergh, Jeroen C.J.M.; Ferrer-I-Carbonell, Ada; … - 1998

, formulated in terms of maximization of utility ingeneral, or profits in particular. The standard theory of environmental policy … behavioural assumptions have been most significant for the development ofeconomic valuation theory and environmental policy theory …. The focus here will be onenvironmental policy theory. …

Persistent link: https://www.econbiz.de/10010324455

Abnormal Returns, Risk, and Options in Large Data Sets

Caserta, Silvia; Danielsson, Jon; de Vries, Casper G. - 1998

Large data sets in finance with millions of observations have becomewidely available. Such data sets enable the construction of reliablesemi-parametric estimates of the risk associated with extreme pricemovements. Our approach is based on semi-parametric statisticalextreme value analysis, and...

Persistent link: https://www.econbiz.de/10010324456

The Microfoundations of Macroeconomics: An Evolutionary Perspective

van den Bergh, Jeroen C.J.M.; Gowdy, John M. - 2000

, it has rarely focused on clarifying the micro-macro distinction in economic theory and modelling.The macroevolution … topicsincorporating ideas from evolutionary theory into economics are:economic exaptations, macroeconomic consequencesof institutions, and …

Persistent link: https://www.econbiz.de/10010324458