We investigate a private value auction in which a single “entrant”on winning imposes a negative externality on two “regular”bidders. In an English auction when all bidders are active, “regular” bidders free ride, exiting before price reaches their values. In a …rst-price sealed-bid auction incentives for free riding and aggressive bidding coexist, limiting free riding compared to the English au...

Since 1998 a lots of European Internet Service Providers (ISP) started to provide internet access freely. Why does a profit maximizing operator adopts this pricing policy? A consumer who wants to surf on the net needs to buy two services: the access from the ISP and the connection from the Telephone Operator. Since the two services are complements, the price of one service creates a negative ex...

in this paper, besides of studying and reviewing the theoretical analysis of the trade liberalization and industrial growth, the effect of trade liberalization on productivity in the industrial sector of the iran`s economy are investigated. in this study, a translog cost function and sur model for the period of 1974-2006 are used in order to evaluate the trade liberalization variable. at first,...

in this paper smart operation of micro energy hub is presented. energy hub system consists of certain energy hubs and interconnectors that are coordinated by energy hub system operator. an energy hub contains several converters and storages to serve demanded services in most efficient manner from available energy carriers. in this paper, the flexibility of energy delivery point is enhanced u...

a r t i c l e i n f o There are at least three motivations for government intervention in GHG mitigation: (1) inducing the private sector to reduce GHG emissions directly by setting a price on emissions, (2) increasing the amount of innovative activity in GHG mitigation technology development, and (3) educating the public regarding GHG-reducing investment opportunities, allowing consumers to ma...

The main goal of this study was to investigate the way of affecting of water in production of cucumber. From aspect of econometrics, mutual relationships of production function and expenses have been analyzed in which Translog cost function has been used. This function has been estimated using the conditional input demand functions, the shefard theorem, chemical fertilizer, animal fertilizer, l...

in trading electrical energy in deregulated power systems, violation of operation constraints such as transmission lines flow limits is possible. these conditions have been called “congestion”. one of the most important responsibility of independent system operator (iso) is congestion management in a manner that all the system equipments be operated in their nominal ranges. in this paper, usi...

Abstract We study the market for a risky asset with uncertain heterogeneous valuations. Agents seek to learn about their own valuation by acquiring private information and making inferences from equilibrium price. As agents of one type gather more information, they pull price closer further away valuations other types. Thus exert negative learning externality on This in turn implies that lower ...

This paper explores the used motor oil markets in California under the regulatory scheme along with potential distortions introduced from elements of SB 546. California Senate Bill (SB) 545 modified the requirements of the deposit-refund system (DRS) for used oil outlined in the California Oil Recycling Enhancement Act (COREA) by introducing a differential fee and incentive system. The motivati...