anticipating regret why fewer options may be better we study preferences over menus which can be represented as if the agent selects an alternative from a menu and experiences regret if her choice is ex post inferior since regret arises from comparisons between the alternative selected and the other available alternatives our axioms reflect the agent s desire to limit her options we prove that our representation is essentially unique we also introduce two measures of comparative regret attitudes and relate them to our representation finally we explore the formal connection between the present work and the literature on temptation

the effect of the food stamp program on nutrient intake i introduction one of the goals of the food stamp program as stated in the preamble of the law is to ensure that low income households have the opportunity to attain a nutritionally adequate diet previous economic studies evaluating the effects of food stamp income on nutrient intake have typically found a positive usually small correlation between the receipt of food stamps and nutrition two recent papers by devaney and moffitt 1991 and horton and campbell 1991 reach very positive conclusions concerning the effect of income in general papers from the nutrition literature generally find positive but weak and often insignificant effects of income on nutrition we employ information on two groups of low income people and find slightly different results for the two groups but very different results from many of the other studies for a sample of rural families taken from data from the rural income maintenance experiment we find almost no effect of food stamp income or evidence of selection bias 1 however for a sample of elderly people from the food stamp cashout project we find strong evidence that self selection into the food stamp program is highly correlated with attaining nutritional adequacy and that controlling for the self selection food stamp income and other income have a negative effect on nutrition we re examine the relationship between food stamp income and the nutrient intake of the poor and improve upon the existing literature in several important ways first it is possible that the positive correlation between the receipt of food stamps and nutrition is not a direct causal link but rather is the result of other factors affecting both for example in one of the samples examined in this paper only 50 percent of those eligible actually apply for and receive food stamps it could be the case that those who care more about nutrition are at the same time more likely to apply for and receive food stamps and more likely to maintain a nutritionally adequate diet these possible self selection problems can be disentangled from possible direct effects of food stamp income on nutrition using estimation procedures which correct for selection bias another issue which our research addresses is that the level of one nutrient may be correlated with the levels of other nutrients this may occur either because individuals who care about nutrition may be more likely to attain adequate levels of all nutrients or because combinations of nutrients occur naturally in foods we posit a multi equation model of the levels of nutrients and allow the disturbances in each equation to be correlated none of the previous studies considered this correlation finally we recognize the fact that above some level extra nutrients are superfluous if an individual has attained a nutritionally adequate diet then whether or not food stamp income allows him or her to consume more nutrients is irrelevant we are primarily interested in therefore whether or not an individual attains an adequate level of a nutrient rather than the absolute amount of a nutrient consumed in previous studies devaney and moffitt 1991 had addressed simultaneously the issues of selection bias and the superfluity of nutrients above some level the finding that food stamp income actually lowers nutrient intake ceteris paribus is a novel result for studies of the food stamp program but it would not be novel in the literature on nutrition in less developed countries pitt and rosenzweig 1985 behrman and deolalikar 1987 it is reasonable to believe that as income increases households employ relatively more money than time in household production this is silberberg s 1985 explanation for decreased efficiency in producing pure nutrients in other words as income increases people spend less time preparing meals and more money on foods which are easier to prepare if as is often the case foods which are more convenient to prepare are less nutritious than foods which require a lot of time to prepare then our result is not surprising

impact of income on nutrient intakes implications for undernourishment and obesity the relationship between income and nutrient intake is explored nonparametric panel and quantile regressions are used engle curves for calories fat and protein are approximately linear in logs with carbohydrate intakes exhibiting diminishing elasticities as incomes increase elasticities range from 0 10 to 0 25 with fat having the highest elasticities countries in higher quantiles have lower elasticities than those in lower quantiles results predict significant cumulative increases in calorie consumption which are increasingly composed of fats though policies aimed at poverty alleviation and economic growth may assuage hunger and malnutrition they may also exacerbate problems associated with obesity

crises food prices and the income elasticity of micronutrients estimates from indonesia the 2008 global food price crisis and more recent food price spikes have led to a greater focus on policies and programs to cushion the effects of such shocks on poverty and malnutrition analysis of the income elasticities of micronutrients and their changes during food price crises can shed light on the potential effectiveness of cash transfer and nutrition supplement programs this article examines these issues using data from two cross sectional household surveys in indonesia taken before 1996 and soon after 1999 the 1997 98 economic crisis which led to a sharp increase in food prices first using nonparametric and regression methods the article examines how the income elasticity of calories from starchy staples as a share of total calories differs between the two survey rounds second the article estimates income elasticities of important nutrients in indonesia the analysis finds that although summary measures such as the income elasticity of the starchy staple ratio might not change during crises this stability masks important differences across individual nutrients in particular income elasticities of some key micronutrients such as iron calcium and vitamin b1 are significantly higher in a crisis year than in a normal year yet the income elasticities of others such as vitamin c remain close to zero these results suggest that cash transfer programs might be even more effective during crises to ensure the consumption of essential micronutrients but to ensure that all key micronutrients are consumed nutrition supplement programs are also likely required jel classification codes i12 o12 d12 e31 keywords income elasticity crisis prices micronutrients vitamin c starchy staple ratio

a probit latent variable model of nutrition information and dietary fiber intake nutrition information and intake data for a sample of u s household meal planners are used to estimate the effects of fiber specific information on dietary fiber intake the information variables are measured using survey questions on fiber content of foods attitude toward consuming fiber rich foods and awareness of fiber health links the evidence confirms the influence of nutrition information on fiber intake household income meal planner age smoking status vegetarian status race and ethnicity are major determinants of both information and intake education exerts a sizable intake effect by enhancing the information level direct and indirect effects of exogenous variables are reported

consistent and robust delimitation of price zones under uncertainty with an application to central western europe abstract new and alternative delimitations of price zones for central western europe cwe might constitute a mid term solution to cope with the increasing congestion in the electricity transmission grids the significantly growing infeed from renewable energy sources puts more and more pressure on the grid and emphasizes the need for improved congestion management thus a new delimitation of price zones is frequently considered in current discussions and research the present paper applies a novel hierarchical cluster algorithm that clusters locational marginal prices and weights nodes depending on their demand and supply situation to identify possible new price zone configurations pzcs the algorithm is applied in a scenario analysis of six scenarios reflecting main drivers that influence the future development of european electricity markets in line with the trilemma of energy policy targets robustness of the new configuration is an important criterion for price zone configurations according to the european guideline on capacity allocation and congestion management cacm therefore a robust price zone configuration is computed taking into account all the six individual scenarios results show that shape size and price variations of price zones on the one hand strongly depend on the individual scenario on the other hand the identified robust configuration is shown to outperform other configurations particularly also the current price zone configuration in cwe

consumer preference for a no choice option the traditional focus in the decision making literature has been on understanding how consumers choose among a given set of alternatives the notion that preference uncertainty may lead to choice deferral when no single alternative has a decisive advantage is tested in seven studies building on recent research the article shows that the decision to defer choice is influenced by the absolute difference in attractiveness among the alternatives provided and is not consistent with trade off difficulty or the theory of search these findings are then extended to show that choice deferral can also be modified for the same alternatives by manipulations that make them appear more similar in attractiveness or that decrease the need to differentiate among them the results are consistent with the notion that preference uncertainty results in a hesitation to commit to any single action since small differences in attractiveness among the alternatives are potentially reversible consistent with this premise the effect of attractiveness difference on choice deferral decreased significantly when subjects were first allowed to practice making monetary trade offs among the available alternatives

renewable energy integration in zonal markets in this paper we investigate the impact of zonal network management in the operation of power systems with significant levels of renewable energy integration our study is inspired by the current state of the european energy market and we focus on a case study of the central western european cwe system first we present a hierarchy of models that account for unit commitment the separation of energy and reserves and the simplified representation of transmission constraints in a zonal market in order to examine the impact of these factors on efficiency in a regime of large scale renewable energy integration second we simulate operations of the cwe system under the zonal market design using a detailed instance that consists of 656 thermal generators 679 nodes and 1073 lines with multiarea renewable energy production and 15 minute time resolution zonal market operations are compared against deterministic and stochastic unit commitment using high performance computing in order to tackle the scale of the resulting models we find that market design can have an influence on cost efficiency which far exceeds the benefits of stochastic unit commitment relative to deterministic unit commitment we conduct a detailed analysis of the numerical results in order to explain the relative performance of the different models

two price zones for the german electricity market market implications and distributional effects abstract we discuss the implications of two price zones i e one northern and one southern bidding area on the german electricity market in the northern zone continuous increases in capacity with low variable costs cause large regional supply surpluses in the market dispatch while in the southern zone conventional capacity decreases as the spatial imbalance of supply and load is increasing the current single bidding area more often results in technically infeasible market results requiring curative congestion management measures there is an ongoing discussion about the potential effects of introducing bidding zones in germany this paper applies an electricity sector model with network representation to analyze the system implications and the distributional effects of two bidding zones in the german electricity system in 2012 and 2015 results show a modest decrease in cross zonal re dispatch levels particularly in 2015 however overall network congestion and re dispatch levels increase in 2015 and also remain on a high level for two bidding zones results are very sensitive to more than two bidding zones and additional line investments illustrating the challenge to define stable price zones in a dynamic setting with two bidding areas prices in the model results increase in the southern zone and decrease in the northern zone the average price deviation grows from 0 4eur mwh in 2012 to 1 7eur mwh in 2015 with absolute values being significantly higher in hours when price differences occur stakeholders within zones are exposed to the price deviations to a different extent distributional effects are surprisingly small compared to the wholesale price or different network charges

indecisiveness undesirability and overload revealed through rational choice deferral three reasons why decision makers may defer choice are indecisiveness between various feasible options unattractiveness of these options and choice overload this paper provides a choice theoretic explanation for each of these phenomena by means of three deferral permitting models of decision making that are driven by preference incompleteness undesirability and complexity constraints respectively these models feature rational choice deferral in the sense that whenever the individual does not defer he chooses a most preferred feasible option as a result choices are always consistent with the weak axiom of revealed preference the three models suggest novel ways in which observable data can be used to recover preferences as well as their indecisiveness desirability and complexity components or thresholds several examples illustrate the relevance of these models in empirical and theoretical applications

determinants of the intrahousehold allocation of food in the rural philippines this study shows that the opportunity cost of time for husbands and wives can affect the intrahousehold distribution of food in a developing country equations which explain the relative allocation of calories within households were estimated for husbands wives and children with data for the rural philippines the estimating equation is derivable from both a joint household utility function and a bargaining model because the same households were included in the four survey rounds the various observations for a given individual were averaged for each variable in the estimation procedure wages were estimated using the heckman approach

food security and health status in the united states food security is defined as access by all times to enough food for an active healthy life this paper explores the relationships between food security and women s self evaluated health status a theoretical model is developed which suggests that our primary interests can be served by estimating health and food security production functions we find that food security has a significant influence on a woman s self evaluated health status however the exact manifestations are difficult to quantify they may be psychological or physiolgical the most food insecure women tend to be poor and less educated tobacco use lack of physical exercise and obesity also weigh heavily good health status

variety prices and food status in low income households the basic premise of this paper is that a household receives utility directly from the status of a food composite good which is created by combining a household s skill and creativity in preparing foods other inputs and the kinds and amounts of foods available we proceed to investigate the factors influencing the demand for and prodcution of this composite good the demand for food status in influenced most by the following characteristics race education houshold size homeownership region of household residence and income direct price effects were minor estimates of a food status production function imply that the production of food status is not much a matter of the quantities of foods consumed but rather the types of food purchased variety and the creativity of the homemaker

renewable electric energy integration quantifying the value of design of markets for international transmission capacity abstract integrating large quantities of variable renewable electricity generation remains a political and operational challenge one of the main obstacles in europe to installing at least 200 gws of power from variable renewable sources is how to deal with the insufficient network capacity and the congestion that will result from new flow patterns we model the current methodology for controlling congestion at international borders and compare its results under varying penetrations of wind power with models that simulate an integrated european network using nodal localised marginal pricing the nodal pricing simulations illustrate that congestion and price patterns vary considerably between wind scenarios and within countries and that a nodal price regime could make better use of existing network capacity introducing substantial operational cost savings and reducing marginal power prices in the majority of european countries

the impact of intraday markets on the market value of flexibility decomposing effects on profile and the imbalance costs abstract an increasing share of variable renewable energy sources vres basically affects the electricity price formation in two ways 1 the so called merit order effect tends to lower the base price level and challenges conventional plants to remain profitable 2 due to the variable nature of renewable energy infeed the short term demand for flexibility increases and changes the volatility of electricity prices the more variable prices offer opportunities for controllable electricity producers ceps who provide up and down ramping flexibility to increase their revenues in contrast the vres with high degrees of simultaneity tend to pay for this flexibility in the electricity spot market to reduce their imbalance exposure the intraday market idm for electricity has gained importance for the market value of different technologies lately and continues to expand due to the increasing efforts to balance within day deviation from day ahead schedules this article presents a combination and extension of two existing models to capture the peculiarities of the intraday price formation and to analyze the impact of the idm on the market value of vres and ceps doing so the paper suggests an adjustment of the classical market value factor metric and to go beyond classical day ahead market dam information the article shows that market value factors mvfs can be stabilized if the idm delivers market based price signals for the costs of flexibility that are sufficient to activate flexibilities prior to the usually more expensive imbalance mechanism ibm yet the mvfs from single vre technologies will worsen if their market share is high enough to outweigh forecast errors from other technologies and if they become a permanent price maker in the idm and the ibm

tacking stock of the eu power target model and steering its future course abstract the european union took more than 20 years to start defining a common market design for its internal electricity market a european power target model and a further 10 years to fully implement it meanwhile the reference generation set of that model has shifted from ccgt burning gas to res plants transforming intermittent natural resources could the existing eu target model continue to work well for the short term operation and long term investment if not can the existing eu institutions easily produce an res resilient new power target model

determinants of dietary quality evidence from bangladesh summary whereas a large number of studies have been devoted to analyzing consumer demand for dietary quantity much less attention has been paid to the demand for dietary quality to address this gap in the literature this paper explores the determinants of dietary quality in bangladesh using data from a nationally representative household expenditure survey conducted in 2000 we find that while male education plays a positive role female education has a substantially stronger influence further female household headship is associated with lower dietary quality than male headship thus promoting female education and addressing the unique constraints faced by female headed households with respect to diet quality could be a significant policy instrument for addressing food insecurity in bangladesh

institutional challenges caused by the integration of renewable energy sources in the european electricity sector the integration of large amounts of variable renewable energy poses fundamental challenges to the operation and governance of the energy system in this article we address the main institutional challenges that are caused by the integration of variable renewable energy sources like solar and wind energy in the european power system we first address how the variable and unpredictable nature of wind and solar energy increases the demand for flexible resources and we discuss potential sources of flexibility next we elaborate on how the need for more flexibility challenges the prevailing market design of todays liberalized power systems furthermore we discuss the key areas where there is a need for a more integrated approach to research and policy making the need for a more integrated approach is motivated by exposing a number of critical interdependencies between technical and institutional sub systems

cautious expected utility and the certainty effect many violations of the independence axiom of expected utility can be traced to subjects attraction to risk free prospects the key axiom in this paper negative certainty independence dillenberger 2010 formalizes this tendency our main result is a utility representation of all preferences over monetary lotteries that satisfy negative certainty independence together with basic rationality postulates such preferences can be represented as if the agent were unsure of how to evaluate a given lottery p instead she has in mind a set of possible utility functions over outcomes and displays a cautious behavior she computes the certainty equivalent of p with respect to each possible function in the set and picks the smallest one the set of utilities is unique in a well dened sense we show that our representation can also be derived from a cautious completion of an incomplete preference relation

market splitting in germany new evidence from a three stage numerical model of europe abstract with the sharp increase in redispatch measures seen during recent years the importance of an efficient congestion management has increased particularly in germany as the current market design with a single bidding area ignores the physical constraints of the transmission grid there is an ongoing discussion about introducing price zones against this background we develop a three stage approach to model redispatch and market splitting for germany while considering interactions with interconnected countries we identify an increasing spatial imbalance between generation and load and delays in grid extension as being the main drivers for the increase of modeled redispatch volumes from 2012 to 2020 we show that market splitting reduces imminent congestion although results are sensitive to the zonal delimitation and corresponding net transfer capacities the overall welfare effect is negligible but price differences between the bidding areas investigated i e one northern and southern price zone result in considerable distributional effects while consumers in northern germany would benefit producer rents and in particular the value of wind energy would decrease the opposite is true for southern germany we conclude that market splitting constitutes a solution to reduce redispatch measures as long as transmission grid expansion is further delayed

evaluating food plans and poverty thresholds 1987 evaluating food plans and poverty thresholds applied economics vol 19 no 10 pp 1341 1352

demographic variables in demand analysis in this paper the authors discuss five procedures for incorporating demographic variables into theoretically plausible demand systems translating scaling and the gorman reverse gorman and implicit prais houthakker procedures these five procedures are used to incorporate a single demographic variable the number of children in a household into the generalized ces demand system using household budget data for the united kingdom for the period 1966 1972 excerpt

buffering volatility a study on the limits of germany s energy revolution squaring hourly demand and wind solar production data for germany and a number of neighbouring countries with the results of the eu s estorage project this paper studies the limits of germany s energy revolution in view of the volatility of wind and solar power in addition to pumped storage it considers double structure buffering demand management norwegian hydro dam buffering and international diversification via grid expansion if germany operated in autarchy and tried to handle the volatility of wind solar production without using stores while replacing all nuclear and fossil fuel in power production on average 61 and at the margin 94 of wind solar production would have to be wasted given the current level of other renewables to avoid any waste the wind solar market share in an autarchic solution must not be expanded to more than 30 by using norway s hydro plants the share could be expanded to 36 if norway were to build all the pumped storage plants the estorage study deems feasible germany s wind solar market share could be expanded by another 24 percentage points to about 60 which corresponds to 48 of the combined german and norwegian markets additionally expanding the market to switzerland austria and denmark and building the maximal number of pumped stores would increase the combined wind solar market share for all five countries to nearly 50 c 2017 the author s published by elsevier b v

the renewable energy policy paradox abstract one major avenue for policymakers to meet climate targets is by decarbonizing the power sector one component of which is raising the share of renewable energy sources renewables in electricity generation however promoting renewables in liberalized power markets creates a paradox in that successful penetration of renewables could fall victim to its own success with the current market architecture future deployment of renewable energy will necessarily be more costly and less scalable moreover transition towards a full 100 renewable electricity sector is unattainable paradoxically in order for renewable technologies to continue growing their market share they need to co exist with fossil fuel technologies ignoring these findings can slow adoption and increase the costs of deploying new renewable technologies this paper spots the incompatibility between electricity liberalization and renewable policy regardless of the country location or renewable technologies the paradox holds as long as market clear prices with short term marginal costs and renewable technology s marginal cost is close to zero and not dispatchable

can drought increase total calorie availability the impact of drought on food consumption and the mitigating effects of a conditional cash transfer program abstract this study uses the panel data of a randomized experiment from the mexican progresa program to evaluate the impact of drought on total calorie availability and the mitigating effects of progresa on food consumption in periods of drought drought reduced total expenditures and total food expenditures but increased the total availability of calories this paradox can be explained by the impact of drought on the composition of calories that is it reduced the consumption of expensive calories in such foods as vegetables fruits and animal products but increased calories consumed from cheaper sources such as grains this study finds that progresa can completely mitigate the negative effects of drought on calorie availability from vegetables fruits and other sources however progresa cannot mitigate the impact of drought on calories available from grains the analysis also shows that during drought households who increase their consumption of grains get them mainly from purchased sources rathe

will developing country nutrition improve with income a case study for rural south india aggregate estimates of food expenditure are consistent with such a possibility implying income expenditure elasticities close to one however the high degree of aggregation at which such estimates are made means that the considerable increase in price per nutrient as income increases is ignored and the nutrient elasticities are therefore overstated estimates for a rural south indian sample indicate that this bias is considerable and that the true nutrient elasticities with respect to income may be close to zero

endogenous price zones and investment incentives in electricity markets an application of multilevel optimization with graph partitioning in the course of the energy transition load and supply centers are growing apart in electricity markets worldwide rendering regional price signals even more important to provide adequate locational investment incentives this paper focuses on electricity markets that operate under a zonal pricing market design for a fixed number of zones we endogenously derive the optimal configuration of price zones and available transfer capacities on a network in order to optimally govern investment and production decisions in the long run in a multilevel mixed integer nonlinear model that contains a graph partitioning problem on the first level we determine welfare maximizing price zones and available transfer capacities for a given electricity market and analyze their impact on market outcomes using a generalized benders decomposition approach developed in grimm et al 2019 and a problem tailored scenario clustering for reducing the input data size we are able to solve the model to global optimality even for large instances we apply the approach to the german electricity market as an example to examine the impact of optimal zoning on key performance indicators such as welfare generation mix and locations or electricity prices it turns out that even for a small number of price zones an optimal configuration of zones induces a welfare level that almost approaches the first best

determinants of food consumption in rural sierra leone abstract this paper reports the application of a quadratic expenditure system with demographic variables to the household consumption leisure choice component of a household firm model a system of seven commodities is estimated including five foods non food and leisure appropriate for such a level of disaggregation a demand system is used the quadratic expenditure system which allows for a flexible relationship between full income and commodity expenditures without sacrificing parsimony in parameters demographic data on households are explicitly incorporated into the model allowing for a richer specification than can be achieved by using per capita variables the data are from a cross section survey of households in rural sierra leone price variation exists by region permitting estimation of a complete demand system engel curves are found to be significantly non linear with marginal expenditure on rice the major staple declining with higher income most foods are found to be reasonably price responsive with sizeable own price substitution effects declining with higher income aggregate labor supply is found to be price inelastic

identifying barriers to large scale integration of variable renewable electricity into the electricity market a literature review of market design abstract for reaching the 2 c climate target the robust growth of electricity generation from variable renewable energy sources vre in the power sector is expected to continue accommodation of the power system to the variable uncertain and locational dependent outputs of vre causes integration costs integrating vre into a well functioning electricity market can minimize integration costs and drive investments in vre and complementary flexible resources however the electricity market in the european union eu as currently designed seems incapable to deliver this end this paper aims to provide a comprehensive literature review of barriers to the large scale market integration of vre in the eu electricity market design based on the set up of the eu electricity market a framework was developed to incorporate the most pertinent market integration barriers and resulting market inefficiencies this paper concludes that an overhaul is needed for the current eu electricity market to address all barriers identified firstly a discrete auction intraday market a marginal pricing balancing market a two price imbalance settlement and a nodal pricing locational marginal pricing mechanism seem more promising in limiting integration costs secondly to support business cases of vre and complementary flexible resources in the electricity market a level playing field should be established and the price cap should be lifted up to the value of lost load voll meanwhile to fit vre s market participation a higher time resolution of trading products and later gate closure time in different submarkets would be required lastly feed in support schemes currently widely used for vre investments might be inconsistent with market integration as they increase integration costs and lock vre investments in a subsidy dependent pathway to avoid such lock in further investigation of alternative capacity based support schemes is recommended

revitalising the wind power induced merit order effect to reduce wholesale and retail electricity prices in australia this paper investigates the effect of increasing the number of wind turbine generators on wholesale spot prices in the australian national electricity market s nem given the existing transmission grid from 2014 to 2025 we use a sensitivity analysis to evaluate the effect of five different levels of wind power penetration on prices ranging from scenario a no wind to scenario e that includes existing and planned wind power sufficient to meet australia s original 2020 41twh large scale renewable energy target lret we find divergence in prices between states and similar prices for nodes within states this supports the garnaut climate change review assessment on the prevalence of gold plating the intrastate transmission network and underinvesting in interstate connectivity we find that increasing wind power penetration decreases wholesale spot prices but that retail prices have increased in deregulated south australia and queensland similarly in victoria we argue that there is a pressing need to split the large generator retail companies into separate retail and generator companies and to reassess regulatory rules more generally interconnector congestion limits the potential for wind power to further reduce wholesale prices across the nem so the need for a high capacity transmission backbone in the nem is becoming clearer and will become pressing when australia moves beyond its current 2020 lret

cross border investment expenditure spillovers in european gas infrastructure we investigate the implications of an integrated vis a vis a national perspective regarding investment in natural gas infrastructure in particular we analyze cross border spillovers related to the investment expenditure of five western european countries we develop a practical approach to estimate such cross border investment expenditure spillovers using a multi regional input output model we find that international spillovers are generally larger for employment compensation compared to capital compensation and that the spillovers are unevenly distributed among the countries and the types of labor both high skilled and medium skilled labor is impacted most in the country where the investments take place whereas low skilled labor is mostly generated outside the eu we argue that an integrated european gas infrastructure investment policy is to be recommended

impacts of capital and land constraints on the economics of new livestock technology in western kenya abstract the introduction of new forages and milk marketing improvements was projected to permit even the smallest modeled farms in a western kenya region to adopt dual purpose goats and thereby improve family income and nutrition expanded credit permitted modeled medium and large farms especially to vigorously exploit these innovations credit also expanded income more than did goat management improvements because credit extension assistance marketing improvements and new forages will leave projected incomes of small farmers below those of medium and large farmers in the study region development of off farm jobs may still be necessary to supplement the incomes of this fast growing group the marginal value of capital for medium and large farmers with new livestock technology was high this suggests that government subsidized credit might be unnecessary with proper infrastructural and legal support private capital markets might develop as new livestock technology and marketing improvements expand the demand for borrowing

information endogeneity and consumer health behaviour application to dietary intakes due to heightened public health interest a growing number of consumer health behaviour studies are focusing on the effect of health information on the demand for health inputs and outcomes many of these studies however have overlooked the potential endogeneity of information variables stemming from unobserved individual heterogeneity due to simultaneity bias ignoring endogeneity may lead to inaccurate estimates of informational effects on health behaviour using dietary intake data for fat saturated fat cholesterol and fibre this paper illustrates the pitfalls of treating health information related to these nutrients as exogenous variables in their demand equations in most of the estimated models the exogeneity of information is statistically rejected when the information variables are treated as exogenous variables their effects on dietary intakes are underestimated the estimated effects of key intake determinants such as income education ethnicity and race are also different in such a

estimating a household production function heterogeneity the demand for health inputs and their effects on birth weight the household production literature emphasizes that technical or biological processes condition input selection by households in their production activities along with prices and income exogenous variations in health to the extent that they are perceived by individuals heterogeneity lead to correlations between inputs and health outcomes that cannot be used to derive causal conclusions therefore estimates of health technology must be obtained from a behavioral model in which health inputs are themselves choices consistent estimates are reported of the effect of endogenous inputs such as medical care smoking and fertility on birth weight and fetal growth in the presence of health heterogeneity

hybrid pricing in a coupled european power market with more wind power abstract in the european electricity market the promotion of wind power leads to more network congestion zonal pricing market coupling which does not take the physical characteristics of transmission into account is the most commonly used method to relieve network congestion in europe however zonal pricing fails to provide adequate locational price signals regarding scarcity of energy and thus creates a large amount of unscheduled cross border flows originating from wind generated power in this paper we investigate the effects of applying a hybrid congestion management model i e a nodal pricing model for one country embedded in a zonal pricing system for the rest of the market we find that compared to full nodal pricing hybrid pricing fails to fully utilize all the resources in the network and some wrong price signals might be given however hybrid pricing still outperforms zonal pricing the results from the study cases show that within the area applying nodal pricing better price signals are given the need for re dispatching is reduced more congestion rent is collected domestically and the unit cost of power is reduced

uncertain bidding zone configurations the role of expectations for transmission and generation capacity expansion abstract ongoing policy discussions on the reconfiguration of bidding zones in european electricity markets induce uncertainty about the future market design this paper deals with the question of how this uncertainty affects market participants and their long run investment decisions in generation and transmission capacity generalizing the literature on pro active network expansion planning we propose a stochastic multilevel model which incorporates generation capacity investment network expansion and market operation taking into account uncertainty about the future bidding zone configuration using a stylized two node network we disentangle different effects that uncertainty has on market outcomes if there is a possibility that future bidding zone configurations provide improved regional price signals welfare gains materialize even if the change does not actually take place as a consequence welfare gains of an actual change of the bidding zone configuration are substantially lower due to those anticipatory effects additionally we show substantial distributional effects in terms of both expected gains and risks between producers and consumers and between different generation technologies

choice deferral indecisiveness and preference for flexibility abstract in a standard model of menu choice we examine the behavior of an agent who applies the following cautious deferral rule whenever in doubt don t commit just leave options open our primitive is a complete preference relation that represents the agent s choice behavior the agent s indecisiveness is captured by means of a possibly incomplete but otherwise rational preference relation we ask when can be viewed as a cautious deferral completion of some incomplete under the independence and continuity assumptions commonly used in the menu choice literature we find that even the smallest amount of indecisiveness is enough to force through the above deferral rule to exhibit preference for flexibility on its entire domain thus we highlight a fundamental tension between non monotonic preferences such as preferences for self control and tendency to defer choice due to indecisiveness

market based price differentials in zonal and lmp market designs the california iso is redesigning procedures for scheduling dispatch and congestion management which are critical to reliable nondiscriminatory transmission service the redesign implements security constrained unit commitment and locational marginal pricing to reflect actual costs of delivering energy using an accurate network model to price both congestion and losses caiso simulations of the market redesign are a unique opportunity to compare a estimated lmps if the redesign were in place during recent historical periods with b actual conditions as logged in operating records the study uses market schedules and bids in an alternating current optimal power flow simulation resulting lmps are similar within current congestion zones but price differences occur during high loads reflecting actual changes in system conditions the frequency and magnitude of lmp differences are consistent with the current market suggesting that the increased market transparency will produce stable predictable prices case studies demonstrate that optimization using scuc and sced coupled with the state estimator allows more appropriate responses to system conditions improved utilization of transmission capacity reduction in congestion costs and enhanced system reliability

germany s nuclear power plant closures and the integration of electricity markets in europe this paper examines the potential implications of national policies that lead to a sudden increase of wind power in the electricity mix for interconnected european electricity markets more specifically it examines market integration before and after the closures of eight nuclear power plants that occurred within a period of a few months in germany during 2011 the short and long run interrelationships of daily electricity spot prices from november 2009 to october 2012 in apx endex belpex epex de epex fr nordpool omel and swissix and wind power in the german system are analysed two mgarch multivariate generalized autoregressive conditional heteroscedasticity models with dynamic correlations are used to assess spot market behaviour in the short run and a fractional cointegration analysis is conducted to investigate changes in the long run behaviour of electricity spot prices results show positive time varying correlations between spot prices in markets with substantial shared interconnector capacity a negative association between wind power penetration in germany and electricity spot prices in the german and neighbouring markets and for most markets a decreasing speed in mean reversion

how to benefit from a common european electricity market design abstract the realization of an internal electricity market in europe is currently on the one hand progressing in particular thanks to the wide spread implementation of market coupling solutions for cross border congestion management on the other hand diverging national market designs pose a threat to the continuation of this process given the challenges to electricity market design in a multi regional context we analyze how different design aspects namely cross border congestion management and capacity mechanisms affect welfare and generation adequacy in europe in doing so we rely on an agent based simulation model for electricity wholesale markets which we apply within several numerical computational case studies for the region of central western europe 2012 2030 our results confirm the benefits of market coupling in terms of welfare as well as generation adequacy furthermore we find indications that coordinating market designs across regions supports these targets therefore we recommend that european energy policy forms a stable transparent regulatory framework with cross border market coupling as an integral component in this context energy policy targets should be clearly defined and operationalized which also needs to consider potential conflicts between them finally electricity market designs need to be coordinated among states to benefit most from a common european market

more evidence on nutrition demand income seems overrated and women s schooling underemphasized abstract malnutrition is widespread in the developing world controversy continues concerning the roles of income household size and women s schooling on nutrient demand empirical estimates for nicaragua suggest that income elasticities are small and inversely associated with income levels there are some economies of scale in household size the elasticity for women s schooling is higher than those for income or household size and women s backgrounds are important the results cast doubt on the strong emphasis the world bank and others have placed on income and suggest that schooling may be working through tastes not only through productivity

towards a theory of famine relief policy abstract this paper examines how famine mortality is related to the distribution of food consumption a theoretical model is proposed of how individual survival chances are affected by changes in consumption uncertainty in survival prospects arises from the errors made by any observer in assessing health at given current consumption the theory is used to explore two policy issues in famine relief the choice of budgetary rules for allocating emergency aid and the case for price stabilization policies during famines applications to data for two famines in south asia suggest that successful price stabilization would have had substantial benefits in reducing mortality