dominates despite modest efficiency gains, leading to higher consumer prices. Deregulation does not necessarily reduce prices … impact of market-based deregulation in the context of the U.S. electricity sector. We find that the increase in markups … tradeoff. Market-based prices can provide incentives to allocate resources more efficiently and reduce costs, but the presence …

This article studies optimal investment in flexible manufacturing capacity as a function of product prices (margins …

buyers observe prices but not capacities then an equilibrium exists where sellers of capacity two post lower prices than …We study pricing in a model where buyers are homogeneous and sellers have either capacity one or two. We show that if … sellers of capacity one. The equilibrium satisfies the intuitive criterion. Copyright Springer-Verlag Wien 2014 …

demand for both crude oil and natural gas, which explains the market power of oil producers and price volatility following … shocks. The paper establishes a relationship between oil prices, changes in the nominal effective exchange rate (NEER) of the … rates and the NEER are shown to influence crude prices inversely. The results imply that crude oil prices should be included …

, but also by the availability of the transport infrastructure. If transportation capacity is scarce, prices may form in … periods to illustrate the interdependencies between prices, scarce capacity and capacity value. The theoretically optimal …Especially in the short-term, prices in natural gas markets are not exclusively determined by overall supply and demand …