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Investment Policy for Time-Inconsistent Discounters
Harstad, Bård - CESifo - 2013
the current principal prefers her future self to save more, she can increase current investments complementary to future … savings and decrease investments in the strategic substitutes, for example. To characterize the principal’s choices they are … benefits from subsidizing investments in “green” capital (complementary to future savings) and tax investments in substitute …
Persistent link: https://www.econbiz.de/10010877709
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Estimating Fluctuations in Oil and Gas Investment
Dahl, Roy Endré; Osmundsen, Petter - CESifo - 2014
Governments in extraction countries are anxious to estimate expected investment in development projects, since they represent an essential element of the macro economy. The overall level of activity is also crucial to oil companies, since the macro picture affects cost levels, the supplies...
Persistent link: https://www.econbiz.de/10010948869
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Optimal Energy Investment and R&D Strategies to Stabilise Greenhouse Gas Atmospheric Concentrations
Bosetti, Valentina; Carraro, Carlo; Massetti, Emanuele; … - CESifo - 2007
The stabilisation of GHG atmospheric concentrations at levels expected to prevent dangerous climate change has become an important, global, long-term objective. It is therefore crucial to identify a cost-effective way to achieve this objective. In this paper we use WITCH, a hybrid...
Persistent link: https://www.econbiz.de/10005765756
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Price-Dependent Profit Sharing as an Escape from the Bertrand Paradox
Foros, Oystein; Hagen, Kare P.; Kind, Hans Jarle - CESifo - 2007
firms undertake investments which benefit the industry in aggregate. The model is consistent with observations from the …
Persistent link: https://www.econbiz.de/10005094252
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Exit Dynamics of Start-up Firms: Does Profit Matter?
Golombek, Rolf; Raknerud, Arvid - CESifo - 2015
a sharp increase in the estimated exit probability just prior to exit. Hence, it is the cumulated effect of higher risk …
Persistent link: https://www.econbiz.de/10011124892
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Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market
Goerke, Laszlo - 2011
In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on output for a specific (unit) tax can enhance welfare in imperfectly competitive markets and is without impact in a competitive world. This paper demonstrates that a substitution...
Persistent link: https://www.econbiz.de/10013130099
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Global Warming and Extreme Events : Rethinking the Timing and Intensity of Environmental Policy
Chen, Yu-Fu - 2010
-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …
Persistent link: https://www.econbiz.de/10013139799
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Information, Uncertainty, and Subjective Entitlements in Bargaining
Karagözoğlu, Emin - 2010
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139800
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Optimal Income Taxation with Uncertain Earnings : A Synthesis
Boadway, Robin - 2011
ex ante identical households and the no-risk case with heterogeneous abilities come out as special cases …
Persistent link: https://www.econbiz.de/10013117794
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Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …
Persistent link: https://www.econbiz.de/10013118167