Regulatory reform in the Nordic electricity-supply markets has resulted in a single integrated Nordic electricity market. This paper performs an econometric study of market power in the spot market of Nord Pool, the joint Nordic power exchange. I use a dynamic extension of the Bresnahan-Lau model, and weekly data for the period from 1996 through April 1999. To my knowledge, this is the first st...

Consumers buying goods online often cannot physically inspect the products prior to purchase. Thus an online market may turn what is usually regarded as a search good into an experience good. We investigate how this feature, together with other features of the marketplace, a¤ects a …rm’s choice between online and physical markets. Using a simple yet ‡exible framework, we show that the choice of...

We construct a model of cooperative superradiant emission from highly relativistic multi-particle source. revise an existing the literature for two-level particle, and it Hamiltonian describing velocity dependent superradiance. adapt standard diagrammatic framework to compute time evolution density operators our Hamiltonian, demonstrate during process departure results calculation methods. In p...

This paper introduces a scaled PRT system, by which the expense and time for development can be reduced and the field applicability can also be improved. Furthermore, due to the propulsion based on the in-track linear induction motor (LIM), the need to carry motors and controllers on each vehicle and to provide guideway power rails can be eliminated, and thus the economical efficiency can be im...

Gas Metal arc Welding (GMABQ has become the most addely used process for joining of steel plates due to its high productixity, simplicity of equipment and ease of use. Although the process of melting of the electrode and development of the weld deposit has been studied for 40 years, the dynamic nature of the process has not been studied in detail because accurate models are computationally inte...

We present a model of N-player contracting with transaction costs and endogenous property rights. Ex ante agreed surplus sharing can be altered ex post, after irreversible investments in production (characterised by the generalised Cobb-Douglas production function). The actual surplus sharing is determined ex post, after each player has chosen a costly action to alter the surplus sharing in his...