Browsing Working Papers by Author "Liski, Matti"
Now showing items 1-9 of 9
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An Empirical Model of Imperfect Dynamic Competition and Application to Hydroelectricity Storage
(2008)The Nordic power market presents a unique opportunity for testing the nature and degree of market power in storage behavior due to preciseness of data on market fundamentals determining hydro resource use. We develop an ... -
Forward trading and collusion in oligopoly
(MIT Center for Energy and Environmental Policy Research, 2004)We consider an infinitely-repeated oligopoly in which at each period firms not only serve the spot market by either competing in prices or quantities but also have the opportunity to trade forward contracts. Contrary to ... -
Forward trading and collusion in oligopoly
(MIT Center for Energy and Environmental Policy Research, 2005)We consider an infinitely-repeated oligopoly in which at each period firms not only serve the spot market by either competing in prices or quantities but also have the opportunity to trade forward contracts. Contrary to ... -
Forward trading in exhaustible-resource oligopoly
(MIT Center for Energy and Environmental Policy Research, 2008)We analyze oligopolistic exhaustible-resource depletion when firms can trade forward contracts on deliveries, a market structure prevalent in many resource commodity markets. We find that this organization of trade has ... -
Market power in a storable-good market : theory and applications to carbon and sulfur trading
(MIT Center for Energy and Environmental Policy Research, 2005)We consider a market for storable pollution permits in which a large agent and a fringe of small agents gradually consume a stock of permits until they reach a long-run emissions limit. The subgame-perfect equilibrium ... -
A note on market power in an emission permits market with banking
(MIT Center for Energy and Environmental Policy Research, 2004)In this paper, we investigate the effect of market power on the equilibrium path of an emission permits market in which firms can bank current permits for use in later periods. In particular, we study the market equilibrium ... -
On Coase and Hotelling
(2009)It has been long recognized that an exhaustible-resource monopsonist faces a commitment problem similar to that of a durable-good monopolist. Indeed, Hörner and Kamien (2004) demonstrate that the two problems are formally ... -
Trends and breaks in per-capita carbon dioxide emissions, 1870-2028
(MIT Center for Energy and Environmental Policy Research, 2003)We consider per-capita carbon dioxide emission trends in 16 early developed countries over the period 1870-2028. Using a multiple-break time series method we find more evidence for very early downturns in per-capita trends ... -
Uncertainty and Energy Saving Investments
(MIT Center for Energy and Environmental Research Policy, 2010-03)Energy costs are notoriously uncertain but what is the effect of this on energysaving investments? We find that real-option frictions imply a novel equilibrium response to increasing but uncertain energy costs: early ...
