Center for Energy and Environmental Policy Research: Recent submissions

Now showing items 262-264 of 334

    • Diversification and the value of exploration portfolios 

      Smith, James L.; Thompson, Rex W. (MIT Center for Energy and Environmental Policy Research, 2005)
      Conventional wisdom holds that dependence among geological prospects increases exploration risk. However, dependence also creates the option to truncate exploration if early results are discouraging. We show that the value ...

    • Forward trading and collusion in oligopoly 

      Liski, Matti; Montero, Juan-Pablo (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 ...

    • The efficiency and robustness of allowance banking in the U.S. Acid Rain Program 

      Ellerman, A. Denny; Montero, Juan-Pablo (MIT Center for Energy and Environmental Policy Research, 2005)
      This paper provides an empirical evaluation of the efficiency of allowance banking (i.e., abating more in early periods in order to abate less in later periods) in the nationwide market for sulfur dioxide (SO2) emission ...