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Sole Ownership and Common Property Under Management Flexibility: Valuation, Optimal Exploitation and Regulation
(2001-01)
If one were to examine the institutional configurations under which real world fisheries operate, one would find virtually no fisheries operating under either pure open access or rent maximizing conditions. Instead, most ...
Gaussian Semiparametric Estimation in Long Memory in Stochastic Volatility and Signal Plus Noise Models
(2002-04)
This paper considers the persistence found in the volatility of many financial time series by means of a local Long Memory in Stochastic Volatility model and analyzes the performance of the Gaussian semiparametric or local ...
Optimal Investment in Energy Efficiency under Uncertainty
(Basque Centre for Climate Change/Klima Aldaketa Ikergai, 2009-11-18)
This paper deals with the optimal time to invest in an energy efficiency improvement. There is a broad consensus that such investments quickly pay for themselves in lower energy bills and spared emission allowances. However, ...
Linking Reduced Deforestation and a Global Carbon Market: Impacts on Costs, Financial Flows, and Technological Innovation
(Basque Centre for Climate Change/Klima Aldaketa Ikergai, 2009-10-07)
Discussions of tropical deforestation are currently at the forefront of climate change policy negotiations at national, regional, and international levels. This paper analyzes the effects of linking Reduced Emissions from ...
Egalitarian distributions in coalitional models: The Lorenz criterion
(2003-01)
The paper presents a framework where the most important single-valued solutions in the literature of TU games are jointly analyzed. The paper also suggests that similar frameworks may be useful for other coalitional models.
Joan Robinson Was Almost Right: Output under Third-Degree Price Discrimination
(2009-12)
In this paper, we show that in order for third-degree price discrimination to increase total output, the demands of the strong markets should be, as conjectured by Robinson (1933), more concave than the demands of the weak ...
Implementing with veto players: a simple non cooperative game
(2005-06)
The paper adapts a non cooperative game presented by Dagan, Serrano and Volij (1997) for bankruptcy problems to the context of TU veto balanced games. We investigate the relationship between the Nash outcomes of a ...
The Relationship between Risk and Expected Return in Europe
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-01)
We employ MIDAS (Mixed Data Sampling) to study the risk-expected return trade-off in several European stock indices. Using MIDAS, we report that, in most indices, there is a significant and positive relationship between ...
Dynamic Inefficiency in an Overlapping Generation Economy with Pollution and Health Costs
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-01)
We analyze an overlapping generations model in which pollution arises, in an accumulatively way, from production. Householders do not care directly about the environment, but pollution leads them to incur health costs when ...
Competition, regulation, and pricing behavior in the Spanish retail gasoline market
(2006)
The restructuring of the Spanish oil industry produced a highly concentrated oligopoly in the retail gasoline market. In June 1990 the Spanish government introduced a system of ceiling price regulation in order to ensure ...