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Nicolas Astier, and Xavier Lambin
vol. 40, n. 3, May 2019
This paper studies wholesale electricity markets where an exogenous price cap is enforced, compromising both short- and long-term incentives. To guarantee capacity adequacy, policy-makers may provide support for generation through a capacity remuneration mechanism (CRM) and/or encourage demand...
Bruno Biais, Christophe Bisière, Matthieu Bouvard, and Catherine Casamatta
vol. 32, n. 5, May 2019, pp. 1662–1715
Blockchains are distributed ledgers, operated within peer-to-peer networks. We model the proof-of-work blockchain protocol as a stochastic game and analyze the equilibrium strategies of rational, strategic miners. Mining the longest chain is a Markov perfect equilibrium, without forking, in line...
Alex Smolin, and Gleb Romanyuk
vol. 11, n. 2, May 2019, pp. 250–276
Short-lived buyers arrive to a platform over time and randomly match with sellers. The sellers stay at the platform and sequentially decide whether to accept incoming requests. The platform designs what buyer information the sellers observe before deciding to form a match. We show full information...
Jay Pil Choi, Doh-Shin Jeon, and Byung-Cheol Kim
vol. 173, May 2019, pp. 113–124
We provide a theoretical model of privacy in which data collection requires consumers’ consent and consumers are fully aware of the consequences of such consent. Nonetheless, excessive collection of personal information arises in the monopoly market equilibrium which results in excessive loss of...
Theodora Fuss, Sabine Noebel, and Klaudia Witte
vol. 94, n. 5, May 2019, pp. 759–771, 13 pages
The social environment offers fish complex information about the quality, performance, personality and other cues of potential mates and competitors simultaneously. It is likely, therefore, that the environmental information regarding the context of mate choice is perceived and processed...
Marcel Boyer
May 2019
Alejandrina Cristia, Emmanuel Dupoux, Michael Gurven, and Jonathan Stieglitz
vol. 90, n. 3, May 2019, pp. 759–773
Christine Webb, Alice Baniel, Guy Cowlishaw, and Elise Huchard
vol. 151, May 2019, pp. 145–155
Patrick Fève, Alban Moura, and Olivier Pierrard
vol. 101, April 2019, pp. 130–144
This paper estimates a small-scale DSGE model of the US economy with interacting traditional and shadow banks. We find that shadow banks amplify the transmission of structural shocks by helping escape constraints from traditional intermediaries. We show how this leakage toward shadow entities...
Machiel Mulder, and Bert Willems
vol. 127, April 2019, pp. 228–239
This paper examines market structure, regulation, and market performance of the Dutch electricity retail market for households since its opening in 2004. Using data containing monthly prices for all products offered in the Dutch retail electricity markets over the period 2008–2014, we provide...
