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Behavioral Economics Commons

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Selected Works

2005

Discipline
Institution
Keyword
Publication
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Articles 1 - 10 of 10

Full-Text Articles in Behavioral Economics

Competitive Auction Markets In British Columbia, Peter Cramton, Susan Athey Dec 2005

Competitive Auction Markets In British Columbia, Peter Cramton, Susan Athey

Peter Cramton

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.


A Capacity Market That Makes Sense, Peter Cramton, Steven Stoft Aug 2005

A Capacity Market That Makes Sense, Peter Cramton, Steven Stoft

Peter Cramton

We argue that a capacity market is needed in most restructured electricity markets, and present a design that avoids problems found in the early capacity markets. The proposed market only rewards capacity that contributes to reliability as demonstrated by its performance during hours in which there is a shortage of operating reserves. The capacity price responds to market conditions, increasing when and where capacity is scarce and decreasing to zero when and where it is sufficiently plentiful. Market power in the capacity market is addressed by basing the capacity price on actual capacity, rather than bid capacity, so generators cannot …


Comments On Doc Notice Of Preliminary Results Of Countervailing Duty Review, Peter Cramton, Susan Athey Jul 2005

Comments On Doc Notice Of Preliminary Results Of Countervailing Duty Review, Peter Cramton, Susan Athey

Peter Cramton

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.


The Prudent Village: Risk Pooling Institutions In Medieval English Agriculture, Gary Richardson May 2005

The Prudent Village: Risk Pooling Institutions In Medieval English Agriculture, Gary Richardson

Gary Richardson

The prudent peasant mitigated the risk of crop failures by scattering his arable land throughout his village, Deirdre McCloskey argued, because alternative risksharing institutions did not exist. But, alternatives did exist, this essay concludes. Medieval English peasants formed two types of farmers’ cooperatives. Fraternities protected members from the perils of everyday life. Customary poor laws redistributed resources towards villagers beset by bad luck. In both institutions, the expectation of reciprocation motivated farmers with surpluses to aid neighbors with shortages.


Review Of Sweet Dreams: Philosophical Obstacles To A Science Of Consciousness, Leslie Marsh Jan 2005

Review Of Sweet Dreams: Philosophical Obstacles To A Science Of Consciousness, Leslie Marsh

Leslie Marsh

The question of how a physical system gives rise to the phenomenal or experiential (olfactory, visual, somatosensitive, gestatory and auditory), is considered the most intractable of scientific and philosophical puzzles. Though this question has dominated the philosophy of mind over the last quarter century, it articulates a version of the age-old mind–body problem. The most famous response, Cartesian dualism, is on Daniel Dennett’s view still a corrosively residual and redundant feature of popular (and academic) thinking on these matters. Fifteen years on from his anti-Cartesian theory of consciousness (Consciousness Explained, 1991), Dennett’s frustration with this tradition is still palpable. This …


Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson Jan 2005

Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson

Peter Cramton

New England Power Pool, Federal Energy Regulatory Commission.


Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson Jan 2005

Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson

Peter Cramton

ISO New England proposes reserve markets designed to improve the existing forward reserve market and improve pricing during real-time reserve shortages. We support all of the main elements of the proposal. For example, we agree that little is gained by allowing reserve availability bids in the day-ahead market. Doing so greatly increases the complexity of the market without the prospect of more efficient pricing. Rather, offline reserves are most efficiently priced and awarded well in advance, as is done by the improved forward reserve market.


Private Information And Market Movements: New Evidence From The Wednesday Closings Of 1968, Thomas Berry Dec 2004

Private Information And Market Movements: New Evidence From The Wednesday Closings Of 1968, Thomas Berry

Thomas D Berry

No abstract provided.


Economic Growth, Saving And Investment, Safdar Khan Dec 2004

Economic Growth, Saving And Investment, Safdar Khan

Safdar Khan

Extract:
Despite an evident slowdown in major economies around the global amidst a sustained rise in international oil prices, the domestic economy surpassed its growth target by a wide margin for the third consecutive year, witnessing a growth rate of 8.4 percent in FY05, the highest during the last two decades (see Figure 2.1 & 2.2).


Bearing The Costs Of Human-Wildlife Conflict: The Challenges Of Compensation Schemes, Philip J. Nyhus, Steve A. Osofsky, Paul Ferraro, H Fischer, Francine Madden Dec 2004

Bearing The Costs Of Human-Wildlife Conflict: The Challenges Of Compensation Schemes, Philip J. Nyhus, Steve A. Osofsky, Paul Ferraro, H Fischer, Francine Madden

Philip J. Nyhus

No abstract provided.