asymmetric preference and loss aversion for electric vehicles the reference dependent choice model capturing different preference directions abstract greenhouse emissions from internal combustion engines have become a serious social issue as of 2019 most vehicles in the south korean car market have internal combustion engines although the south korean government is adopting and implementing various policies to facilitate the penetration of battery electric vehicles evs in the car market its efforts have been in vain several studies on ev diffusion strategies have analyzed consumer preference for evs using discrete choice experiments with virtual alternatives however they do not consider that consumers choose a new product based on the properties of products they already own this aspect has a significant effect on consumer preferences and has several implications therefore this study uses a discrete choice model with a reference point to investigate asymmetric consumer preferences for the major attributes of evs and analyzes the related loss aversion parameters the results are then used to conduct a sensitivity analysis for fuel efficiency and infrastructure attribute to explore which factor is more influential to consumers evs choice probability

hierarchical package bidding a paper pencil combinatorial auction we introduce a new combinatorial auction format based on a simple trans parent pricing mechanism tailored for the hierarchical package structure proposed by rothkopf pekec and harstad 1998 to avoid computational complexity this combination provides the feedback necessary for bidders in multi round auctions to discern winning bidding strategies for subsequent rounds and to coordinate re sponses to aggressive package bids the resulting mechanism is compared to two leading alternatives in a series of laboratory experiments involving varying degrees of value synergies based on these wind tunnel tests the fcc has decided to use hierarchical package bidding in the major upcoming 700mhz auction

economic incentives for tourism firms to undertake voluntary environmental management abstract the management of natural assets at tourism destinations has relied strongly on the traditional assumption that agents free ride tourism firms are expected to overuse resources for their private interest and be subject to a trade off between being green and being competitive however there are many examples of voluntary environmental actions undertaken by the tourism industry the present paper reviews the literature on the economic consequences of voluntary environmental action taken by tourism firms and presents three challenges to the commonly held tragedy expectations these results suggest the viability of alternative environmental policymaking that takes potential voluntary action under consideration

eco innovation and economic crisis a comparative analysis of environmental good practices and labour productivity in the spanish hotel industry abstract in recent years respect for the environment has been taken into account by tourists as a factor in their purchasing decisions the concept of eco innovation has gained an important role in adapting the tourism product to this new demand using a previous database already compiled by the authors this paper has two aims to address the effect of implementing environmental measures on labour productivity in the andalusian hotel industry and to show how its implementation has evolved during a period of deep economic crisis in all the productive sectors in spain 2008 2012 for this purpose the variable ei was defined as indicator by which to measure the eco innovation and was introduced in a standard cobb douglas production function the two estimates of the production function for 2008 and 2012 show that the introduction of eco innovative measures had a positive and significant influence on labour productivity despite the fact of the economic crisis reduced the productivity growth observed for each additional eco innovative practice implemented by the hotels from 8 15 in 2008 7 45 in 2012

perception and reality public knowledge of plug in electric vehicles in 21 u s cities this paper examines the extent of consumer knowledge about plug in electric vehicles pevs and the current policies in place to encourage their purchase and use data are collected via a survey administered to a sample of 2302 adult drivers in 21 of the largest cities in the united states almost two thirds of the respondents provided incorrect answers to basic factual questions about pevs and of those approximately 75 underestimated their private value or advantages the vast majority 94 5 of respondents were not aware of the current state and local incentives in place in their locale to encourage pev purchase and use based on a review of consumer theory multivariate models are developed and used to assess the factors associated with consumer interest in the two major types of pev technologies battery electric vehicles bev and plug in hybrid electric vehicles phev results show demographic and attitudinal characteristics having the largest influence on interest in either type of pev misperceptions about purchase price and expected fuel and maintenance savings are likewise significant although their impacts differ between bevs and phevs better informing consumers about already available public incentives and advantageous aspects of existing pev technologies offer promising steps toward their mass commercialization

auctions and information acquisition sealed bid or dynamic formats the value of an asset is generally not known a priori and it requires costly investments to be discovered in such contexts with endogenous information acquisition which selling procedure generates more revenues we show that dynamic formats such as ascending price or multistage auctions perform better than their static counterpart this is because dynamic formats allow bidders to observe the number of competitors left throughout the selling procedure thus even if competition appears strong ex ante it may turn out to be weak along the dynamic format thereby making the option to acquire information valuable this very possibility also induces the bidders to stay longer in the auction just to learn about the state of competition both effects boost revenues and our analysis provides a rationale for using dynamic formats rather than sealed bid ones

ex ante evaluation of profitability and government s subsidy policy on vehicle to grid system abstact although the electric vehicle reduces pollutant emissions and results in reduced energy costs lack of battery charging infrastructure and relatively high vehicle prices create challenges to the automobile industry and affect government support policies to create a battery charging infrastructure such as a vehicle to grid system stakeholders need a quantitative analysis that decreases profitability uncertainty the high cost of an electric vehicle can be offset by government subsidies that promote early marketing efforts but an ex ante evaluation of consumer demand is needed to analyze the effectiveness of any policy this study provides information about optimal pricing based on consumer demand as well as the social welfare change effected by possible government subsidy polices for electric vehicles results show that the maximum profit for a vehicle to grid service provider will be 1 27 trillion korean won year with an annual subscription fee of 0 65 million korean won the government subsidy of 1 trillion korean won given annually will increase social welfare by 1 94 trillion won and also boost the profit of vehicle to grid service provider to 1 98 trillion won

payoff assessments without probabilities a simple dynamic model of choice abstract we develop a model which reflects the tendency of people to simplify the decision problems they face the decision maker chooses among alternate strategies only on the basis of the payoff she assesses she would obtain from them and these assessments do not explicitly take into account her subjective judgements regarding the likelihood of alternate states of the world at each stage the decision maker chooses the strategy that she assesses to give the highest payoff she updates her assessments adaptively we show that such behavior leads to maxmin choices we also consider the decision maker who experiences shocks journal of economic literature classification numbers c7 d8

contestation contingency and justice in the nordic low carbon energy transition the five nordic countries have aggressive climate and energy policies in place and have already emerged to be leaders in renewable energy and energy efficiency denmark is renowned for its pioneering use of wind energy finland and sweden bioenergy norway hydroelectricity and iceland geothermal energy all countries aim to be virtually fossil free by 2050 this study explores the nordic energy transition through the lens of three interconnected research questions how are they doing it what challenges exist and what broader lessons result for energy policy the study firstly investigates the pathways necessary for these five countries to achieve their low carbon goals it argues that a concerted effort must be made to 1 promote decentralized and renewable forms of electricity supply 2 shift to more sustainable forms of transport 3 further improve the energy efficiency of residential and commercial buildings and 4 adopt carbon capture and storage technologies for industry however the section that follows emphasizes some of the empirical barriers the nordic transition must confront namely political contestation technological contingency and social justice and recognition concerns the study concludes with implications for what such historical progress and future transition pathways mean for both energy researchers and energy planners

when does learning in games generate convergence to nash equilibria the role of supermodularity in an experimental setting this study clarifies the conditions under which learning in games produces convergence to nash equilibria in practice previous work has identified theoretical conditions under which various stylized learning processes achieve convergence one technical condition is supermodularity which is closely related to the more familiar concept of strategic complementarities we experimentally investigate the role of supermodularity in achieving convergence through learning using a game from the literature on solutions to externalities we systematically vary a free parameter below close to at and beyond the threshold of supermodularity to assess its effects on convergence we find that supermodular and near supermodular games converge significantly better than those far below the threshold from a little below the threshold to the threshold the improvement is statistically insignificant within the class of supermodular games increasing the parameter far beyond the threshold does not significantly improve convergence simulation shows that while most experimental results persist in the long run some become more pronounced

the influence of market reform on the co2 emission efficiency of china abstract in recent years the constant advancement of market reform in china improves the market allocation efficiency of production factors and further promotes the rapid growth of economic aggregate output in the country additionally the co2 emitted in china also constantly increases based on panel data pertaining to 30 provinces from 1998 to 2015 in china the co2 emission efficiency and marketisation level of china were separately measured using a super slacks based measure approach and generalised principal component analysis on this basis by utilising a dynamic panel regression model and a panel smooth transition regression model the influence of market reform on co2 emission efficiency was explored the results show that the marketisation level exerts a significantly positive effect on co2 emission efficiency in both models and the results are robust on the condition of taking energy price as a threshold variable the influence of process of marketisation is significantly greater than that when taking technological progress as a threshold variable it implied that although energy price and technological progress both significantly promote the marginal effect of market reform on co2 emission efficiency the energy price shows a greater influence than technological progress infrastructure construction and urbanisation can inhibit the improvement of co2 emission efficiency additionally the proportion of secondary industries can delay the improvement of co2 emission efficiency

looking into the danish energy system lesson to be learned by other communities abstract industrialization development and social transformation has brought together issues of over exploitation of limited energy resource base e g fossil fuel accelerated threats of energy insecurity and liberation of greenhouse gas emissions across the continents the global challenge for the 21st century and way ahead is to find other means of satisfying energy needs diversifying the energy supply up scaling the make up of renewable energy to a greater extent optimization of energy consumption and supply system denmark has been continuously moving towards optimization of energy production usage and its overall management during and even after the first global oil crisis the country has been delivering its priority in the development of renewable energy and standing the country an energy self sufficient from last three decades country s overall consumption of energy has decreased than that of the decades of 1980 and 1990s with wider range of energy mix and saving options the danish government has strategized to make the country fossil fuel free by 2050 where special attention and interventions is required to boost up its development of renewable energy in the country the past efforts of the danish government in the energy development has helped not only making the country energy self sufficient but also lowering the level of carbon dioxide in the atmosphere danish energy policy and strategies have been found more conducive and reflective of the joint eu priorities on the matter of dealing with climate change and energy security all the past progress and its allied policies seem to be quite supportive in fulfilling its strategies for greener future this review paper will discuss on the past efforts of danish government in energy management and highlights on some political initiatives which have been realised to support the country moving towards clean and green energy future

in the name of energy security the struggle over the exportation of israeli natural gas the aim of this study is to place the notion of energy security under critical scrutiny by unpacking how different actors manipulate the term through the mobilization of existential language as a prism for creating securitization discourse through an examination of an israeli inter ministerial committee charged with developing national policy regarding newly discovered natural gas reserves off the coast of israel the study finds that the concept of energy security is open for manipulation and various interpretations while some actors stress environmental acceptability and independency as pillars of energy security others prioritized supply reliability and geopolitical benefits associated with gas exportation each definition of energy security was also found to be anchored in different ideologies goals policies and legitimizing factors the coupling of energy with securitization rhetoric was ultimately determined as working against cooperative efforts as committee conflicts intensified and suggested institutional measures became disproportional

ascending price vickrey auctions for general valuations ascending price auctions typically involve a single price path with buyers paying their final bid price using this traditional definition no ascending price auction can achieve the vickrey clarke groves vcg outcome for general private valuations in the combinatorial auction setting we relax this definition by allowing discounts to buyers from the final price of the auction or alternatively calculating the discounts dynamically during the auction while still maintaining a single price path using a notion called universal competitive equilibrium prices shown to be necessary and sufficient to achieve the vcg outcome using ascending price auctions we define a broad class of ascending price combinatorial auctions in which truthful bidding by buyers is an ex post nash equilibrium any auction in this class achieves the vcg outcome and ex post efficiency for general valuations we define two specific auctions in this class by generalizing two known auctions in the literature 11 24

allocating uncertain and unresponsive resources an experimental approach we identify an important class of economic problems that arise naturally in several applications the allocation of multiple resources when there are uncertainties in demand or supply unresponsive supplies no inventories and fixed capacities and significant demand indivisibilities rigidities examples of such problems include scheduling job shops airports or supercomputers zero inventory planning and the allocation and pricing of nasa s planned space station using experimental methods we show that the two most common organizations used to deal with this problem markets and administrative procedures can perform at very low efficiencies 60 65 efficiency in a seemingly robust example thus there is a need to design new mechanisms that more efficiently allocate resources in these environments we develop and analyze two mechanisms that arise naturally from auctions used to allocate single dimensional goods these new mechanisms involve computer assisted coordination made possible by the existence of networked computers both mechanisms significantly improve on the performance of administrative and market procedures

when quality signals talk evidence from the turin hotel industry abstract this study analyzes the relationship between quality signals and price setting through the application of hedonic price functions the model proposals also include variables relating to land use policies and tourism development strategies a simultaneous equation model endogenously estimates quality signals this method is appropriate for analyzing emerging urban destinations as characterized by the presence of an expanding hotel industry the results are based on a dataset of 145 hotels in turin italy the empirical findings reveal that reputation based quality signals help explain tariff levels price proposals also include a premium for quality assured hotels defining some limits of the current hotel classification system the empirical evidence has significant marketing implications for the hospitality industry s competitiveness since the results clarify the impact of quality signals on price level

why did better place fail range anxiety interpretive flexibility and electric vehicle promotion in denmark and israel with almost 1 billion in funding better place was poised to become one of the most innovative companies in the electric mobility market the system better place proposed had two novel prongs first to reduce the cost of batteries and second to reduce range anxiety public infrastructure concerns and long charging times yet despite this seemingly strong combination better place failed to make any progress in denmark and israel the first two markets it operated in and subsequently declared bankruptcy selling off its collective assets for less than 500 000 drawing from science and technology studies and the notion of interpretive flexibility this paper posits several reasons to explain the failure of better place including that denmark is not as green as it seems nor is the israeli market as attractive as believed and that better place s solution to charging time and range anxiety resolved a psychological not a functional barrier of the general public to adopt electric vehicles before investigating these two reasons the paper presents a short history of better place and explores the contours of its operations in denmark and israel it then discusses why better place failed across both countries before concluding with implications for energy planning policy and analysis

vickrey auctions in practice from nineteenth century philately to twenty first century e commerce william vickrey 1961 proposed an auction mechanism in which bidders submit sealed bids and the highest bidder wins the good in return for payment of the second highest bid amount for decades economists have credited vickrey with inventing this auction format and have believed that the vickrey auction is rarely used in practice this paper presents evidence that vickrey auctions have long been the predominant auction format for mail sales of collectible postage stamps stamp auctioneers developed this auction format on their own as early as 1893 even before vickrey was born

multi object auctions with resale theory and experiment abstract we study multi object auctions in the presence of post auction trade opportunities among bidders who have either single or multi object demand we focus on two formats vickrey auctions where package bidding is possible and simultaneous second price auctions we show that under complementarities the vickrey format has an equilibrium where the objects are allocated efficiently at the auction stage whether resale markets are present or not the simultaneous second price on the other hand leads to inefficiency with or without resale possibility our experimental findings show that the possibility of resale in second price auctions decreases the efficiency rate at the auction stage compared to the no resale case however after resale the efficiency rate in second price is as high as that of vickrey auction without resale outcomes in the experiment preventing resale neither benefits nor hurts auction revenues in a second price format

determinants of environmental innovation new evidence from german panel data sources abstract in most cases empirical analyses of environmental innovations based on firm level data relied on surveys for one point in time these surveys allow for the inclusion of many explanatory variables such as different policy instruments or the influence of pressure groups but it is not possible to address the dynamic character of environmental innovations this paper uses two german panel databases the establishment panel of the institute for employment research iab and the mannheim innovation panel mip of the centre for european economic research zew to explore the determinants of environmental innovations the econometric estimations show that the improvement of the technological capabilities knowledge capital by r d triggers environmental innovations environmental regulation environmental management tools and general organizational changes also encourage environmental innovation a result that has also been postulated by the famous porter hypothesis

a new and improved design for multiobject iterative auctions in this paper we present a new improved design for multiobject auctions and report on the results of experimental tests of that design we merge the better features of two extant but very different auction processes the simultaneous multiple round smr design used by the fcc to auction the electromagnetic spectrum and the adaptive user selection mechanism ausm of banks et al 1989 allocating uncertain and unresponsive resources an experimental approach rand journal of economics vol 20 no 1 pp 1 25 then by adding one crucial new feature we are able to create a new design the resource allocation design rad auction process which performs better than both our experiments demonstrate that the rad auction achieves higher efficiencies lower bidder losses higher net revenues and faster times to completion without increasing the complexity of a bidder s problem

multi object auctions with package bidding an experimental comparison of vickrey and ibea abstract the use of package auctions for complex resource allocation has been rapidly increasing in recent years in this paper we study two package auction mechanisms in a laboratory setting a sealed bid vickrey auction and an ascending version of vickrey the i bea auction unlike the single unit vickrey auction where bidders tend to overbid in the laboratory most of our bidders either underbid or bid their true values furthermore at the aggregate level while the vickrey auction generates significantly higher revenue than does i bea the i bea auction generates significantly higher bidder profit and efficiency additionally a significantly larger proportion of i bea auctions achieves 100 efficiency than does the vickrey auction we also find that human bidders learn from their robot opponents when the robot strategies are myopic best responses

theoretical and experimental investigations of the performance of keyword auction mechanisms two keyword auction mechanisms the generalized second price auction gsp and the vickrey clarke groves mechanism vcg were compared theoretically and experimentally the former is widely used in practice the latter is not but it has a dominant strategy equilibrium where all participants bid their true values in the theoretical investigation by applying the locally envy free nash equilibrium to the vcg we found that the allocations are efficient and that upper and lower bounds of the auctioneer s revenue coincide in the two mechanisms a laboratory experiment in which the revenues and efficiencies were similar in both mechanisms supported this result

determinants of environmental innovation in us manufacturing industries abstract this paper provides new evidence on the determinants of environmental innovation we employ panel data models to study how environmental innovation by us manufacturing industries responded to changes in pollution abatement expenditures and regulatory enforcement during the period 1983 through 1992 we find that 1 environmental innovation as measured by the number of successful environmental patent applications granted to the industry responded to increases in pollution abatement expenditures however 2 increased monitoring and enforcement activities related to existing regulations did not provide any additional incentive to innovate we also find some empirical evidence that environmental innovation is more likely to occur in industries that are internationally competitive

energy policymaking in denmark implications for global energy security and sustainability denmark is arguably the most energy secure and sustainable country in the organization of economic cooperation and development oecd the country has reduced its dependence on foreign sources of energy to zero and become self sufficient in its own energy production and use offering important lessons for other nations around the world this study explores the core of denmark s successful approach a commitment to energy efficiency prolonged taxes on energy fuels electricity and carbon dioxide and incentives for combined heat and power chp and wind turbines through these commitments the study shows how denmark transitioned from being almost 100 percent dependent on imported fuels such as oil and coal for their power plants in 1970 to becoming a net exporter of fuels and electricity today the country leads the world in terms of exportation of wind energy technology with a hold on roughly one third of the world market for wind turbines it was able to phase out the use of virtually all oil fired power plants in less than five years and implemented a progressive moratorium on future coal fired power plants in the 1990s their most recent strategy seeks to achieve 30 percent of total energy supply from renewable energy by 2025

on the robustness of non linear personalized price combinatorial auctions abstract though the vcg auction assumes a central place in the mechanism design literature there are a number of reasons for favoring iterative combinatorial auctions icas several promising ica formats were developed based on primal dual and subgradient algorithms prices are interpreted as a feasible dual solution and the provisional allocation is interpreted as a feasible primal solution ibundle 3 dvsv and ascending proxy auction result in vcg payoffs when the coalitional value function satisfies buyer submodularity and bidders bid straightforward which is an ex post nash equilibrium in this case ibea and creditdebit auctions do not even require the buyer submodularity and achieve the same properties for general valuations often however one cannot assume straightforward bidding and it is not clear from the theory how these non linear personalized price auctions nlppas perform in this case robustness of auctions with respect to different bidding behavior is a critical issue for any application we conducted a large number of computational experiments to analyze the performance of nlppas with respect to different bidding strategies and valuation models we compare nlppas with the vcg auction and with icas with linear prices such as alps and the combinatorial clock auction while nlppas performed very well in case of straightforward bidding we observe problems with revenue efficiency and speed of convergence when bidders deviate