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Long Term Dynamics in CO2 Allowance Prices and Carbon Capture Investments
(2007-05)
In this paper we analyse the behaviour of the EU market for CO2 emission allowances; specifically, we focus on the contracts maturing in the Kyoto Protocol's second period of application (2008 to 2012). We calibrate the ...
Valuing Flexibility: The case of an Integrated Gasification Combined Cycle Power Plant
(2005-10)
In this paper we analyze the valuation of options stemming from the flexibility in an Integrated Gasification Combined Cycle (IGCC) Power Plant. First we use as a base case the opportunity to invest in a Natural Gas Combined ...
Monte Carlo Valuation of natural gas investments
(2006-07)
This paper deals with the valuation of energy assets related to natural gas. In particular, we evaluate a baseload Natural Gas Combined Cycle (NGCC) power plant and an ancillary instalation, namely a Liquefied Natural Gas ...
Income risk of EU coal-fired power plants after Kyoto
(2008-10)
Coal-fired power plants may enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This ...
Timing of Wage Setting when Firms Invest in R&D
(2003-12)
In this paper, we analyze the effect that the timing of wage setting (i. e. whether wages set sequentially or simultaneously) has on the investment in R&D of firms, when that investment increases the productivity of labor, ...
Mergers in Durable Goods Industries
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)
This paper is concerned with the study of durability as an aspect of competition and market structure that contributes to determining the incentives for mergers. We find that relative to the incentives in industries that ...
Royalty Licensing
(2009-09)
A patent provides its holder the monopolist´s right to sell licenses that allow the use of new technology. Empirically, most of the patent licensing agreements that are observed include royalties, in particular per unit ...
A Model of Evolutionay Drift
(2003-02)
Drift appears to be crucial to study the stability properties of Nash equilibria in a component specifying different out-of-equilibrium behaviour. We propose a new microeconomic model of drift to be added to the learning ...
The Language Game: A Game-Theoretic Approach to Language Contact
(2006-06)
We study a society inside which two official languages, the majority language A and the minority language B, are in contact and compete for the same social functions. We propose a non-cooperative game to capture some ...
Doubts and Equilibria
(2008)
In real life strategic interactions, decision-makers are likely to entertain doubts about the degree of optimality of their play. To capture this feature of real choice-making, we present here a model based on the doubts ...