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Browsing Center for Energy and Environmental Policy Research by Issue Date

Research and Teaching Output of the MIT Community

Browsing Center for Energy and Environmental Policy Research by Issue Date

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  • Laffont, Jean-Jacques; Tirole, Jean (MIT Center for Energy and Environmental Policy Research, 1989)
    Public decision makers are given a vague mandate to regulate industries. Restrictions on their instruments or scope of regulation affect their incentives to identify with interest groups and the effectiveness ...
  • Laffont, Jean-Jacques; Tirole, Jean (MIT Center for Energy and Environmental Policy Research, 1989)
    The theory of auctions has ignored the fact that often auction designers, not the principal, design auctions. In a multi attribute auction, the auction designer may bias his subjective evaluation of quality or distort the ...
  • Hampson, Philip Robert Osler; Parsons, John E.; Blitzer, Charles R. (MIT Center for Energy and Environmental Policy Research, 1990)
    This is a case study in the design of the production sharing rule used in an oil exploration partnership contract. The contract was negotiated in mid-1986 when a state-owned oil resources authority hired a ...
  • Jacoby, Henry D.; Laughton, David G. (MIT Center for Energy and Environmental Policy Research, 1990)
    This paper presents a practical method for project evaluation using techniques of financial economics which were developed originally for valuing stock options and other financial assets. It is based on the formulation and ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    The explanation of aggregate and sectoral investment behavior has been one of the less successful endeavors in empirical economics. Existing econometric models have had little success in explaining or predicting investment ...
  • Carroll, John S.; Cebon, Peter (MIT Center for Energy and Environmental Policy Research, 1990)
    The explanation of aggregate and sectoral investment behavior has been one of the less successful endeavors in empirical economics. Existing econometric models have had little success in explaining or ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    I examine the behavior of inventories and their role in the short-run dynamics of commodity production and price. Competitive producers of a storable commodity react to price changes by balancing costs of changing production ...
  • Berndt, Ernst R. (MIT Center for Energy and Environmental Policy Research, 1990)
    This is a survey paper for non-specialists on interactions between energy and productivity growth. The first half of the paper surveys the general economic literature linking technical progress to realized gains in ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    Most investment expenditures have two important characteristics. First, they are largely irreversible; the firm cannot disinvest, so the expenditures are sunk costs. Second, they can be delayed, allowing ...
  • Pindyck, Robert S.; Rotemberg, Julio (MIT Center for Energy and Environmental Policy Research, 1990)
    We show that comovements of individual stock prices cannot be justified by economic fundamentals. This finding is a rejection of the present value model of security valuation. Unlike other tests of this model, ours is ...
  • Shepard, Andrea (MIT Center for Energy and Environmental Policy Research, 1990)
  • Hart, Oliver D.; Tirole, Jean (MIT Center for Energy and Environmental Policy Research, 1990)
    Few people would disagree with the proposition that horizontal mergers have the potential to restrict output and raise consumer prices. In contrast, there is much less agreement about the anti-competitive effects of vertical ...
  • Adelman, Morris Albert (MIT Center for Energy and Environmental Policy Research, 1990)
    The 1970 price of Saudi Light crude was $1.21, of which 89 cents was excise tax. By end-1974, the price was about $11, of which 30-50 cents was a fee paid to the former owners, now operators. The detailed history of the ...
  • Besley, Timothy; Coate, Stephen; Loury, Glenn C. (MIT Center for Energy and Environmental Policy Research, 1990)
    This paper examines the role and performance of an institution for allocating savings which is observed world wide - rotating savings and credit associations. We develop a general equilibrium model of an economy with an ...
  • Loury, Glenn C. (MIT Center for Energy and Environmental Policy Research, 1990)
    This paper studies a dynamic, quantity setting duopoly game characterized as follows: Each firm produces an indivisible output over a potentially infinite horizon, facing the constraint that its cumulative production cannot ...
  • Berndt, Ernst R.; Friedlaender, Ann Fetter; Wang Chiang, Judy S. (MIT Center for Energy and Environmental Policy Research, 1990)
    In this paper we show how to adapt the traditional contingent claims valuation techniques to correctly value the firm and its liabilities in the presence of agency costs. This enables us to measure the significance of the ...
  • Mello, António Sampaio; Parsons, John E. (MIT Center for Energy and Environmental Policy Research, 1990)
    In this paper we show how to adapt the traditional contingent claims valuation techniques to correctly value the firm and its liabilities in the presence of agency costs. This enables us to measure the significance of the ...
  • Friedlaender, Ann Fetter (MIT Center for Energy and Environmental Policy Research, 1990)
    This paper reports on results obtained from estimation of a rail cost function using a pooled time-series cross section of Class I U.S. railroads for the period 1973-1986. Based on the results of this cost function, an ...
  • Monroe, Burt L. (MIT Center for Energy and Environmental Policy Research, 1990)
    Environmental issues have become increasingly important in the political arena, particularly with growing concern over the "greenhouse effect," a potential global climatic warming caused by increases in anthropogenic ...
  • Adelman, Morris Albert; DeSilva, Harindar; Koehn, Michael F. (MIT Center for Energy and Environmental Policy Research, 1990)
    The assumption of an initial fixed mineral stock is superfluous and wrong. User cost (resource rent) in mineral production is the present value of expected increases in development cost. It can be measured as the difference ...
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