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Articles 1 - 23 of 23
Full-Text Articles in Behavioral Economics
An Overview Of Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
An Overview Of Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Peter Cramton
No abstract provided.
Comments On The Rggi Market Design, Peter Cramton
The 700 Mhz Spectrum Auction: An Opportunity To Protect Competition In A Consolidating Industry, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
The 700 Mhz Spectrum Auction: An Opportunity To Protect Competition In A Consolidating Industry, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
Peter Cramton
This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and Broadband: The Changing Competitive Landscape and Its Impact on Consumers, sponsored by the Antitrust Division of the U.S. Department of Justice (“the Division”). Our focus is on the state of competition in the wireless sector. Maintaining a competitive wireless sector is particularly critical if, as the Division’s agenda indicates, wireless services are to function as a competitive alternative to wireline technologies. Strengthening competition is especially important now after recent mergers that consolidated the wireless industry into a few dominant firms (two to four depending on …
Comments On The Fcc’S Proposed Competitive Bidding Procedures For Auction 73, Peter Cramton, Gregory Rosston, Andrzej Skrzypacz, Robert Wilson
Comments On The Fcc’S Proposed Competitive Bidding Procedures For Auction 73, Peter Cramton, Gregory Rosston, Andrzej Skrzypacz, Robert Wilson
Peter Cramton
No abstract provided.
Possible Design For A Greenhouse Gas Emissions Trading System, Peter Cramton
Possible Design For A Greenhouse Gas Emissions Trading System, Peter Cramton
Peter Cramton
No abstract provided.
Colombia’S Forward Energy Market, Peter Cramton
Colombia’S Forward Energy Market, Peter Cramton
Peter Cramton
This paper presents a market design for Colombia’s forward energy market, which is scheduled to began in 2008. The forward energy market is an organized market to procure energy for electricity customers on a forward basis. It includes both the regulated market (residential and other small customers) and the nonregulated market (large customers). Currently, regulated customers represent 68% of the total electricity demand and nonregulated customers represent the remaining 32%. The proposed design is novel in that it integrates both the regulated and nonregulated customers into a single organized market. Although the regulated and nonregulated energy products remain distinct, their …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of DC Energy, LLC.
Economist Letter To Ntia On 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Simon Wilkie, Robert Wilson
Economist Letter To Ntia On 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Simon Wilkie, Robert Wilson
Peter Cramton
As the 700 MHz auction approaches, we are writing to clear up a common misconception about the nature of spectrum auctions and the impact of various rules on auction revenues.
Essential Entry: Revenues In The 700 Mhz Spectrum Auction, Peter Cramton
Essential Entry: Revenues In The 700 Mhz Spectrum Auction, Peter Cramton
Peter Cramton
A common misconception is that an open access provision on a sliver of the 700 MHz spectrum would reduce auction revenues. In fact, the open access, wholesale, and bidding credit provisions put forth by Frontline Wireless, will motivate new entry, enhance competition in the auction, and raise revenues.
Revenues In The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
Revenues In The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
Peter Cramton
There have been several comments that criticize auction rules that prevent the two major low-frequency incumbents from winning all of the newly available spectrum and incorporating it into their proprietary networks. Such rules include new-entrant set-asides, new-entrant bidding credits, and the open access plan. We disagree with these criticisms and argue that given the current market structure, such rules are likely to improve welfare and auction revenues. We are submitting this report to provide sound economic analysis of these claims.
Economic Comments On The Design Of The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
Economic Comments On The Design Of The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson
Peter Cramton
We comment on the service and auction rules discussed in the Report and Order and Further Notice of Proposed Rule Making, FCC 07-72, 27 April 2007. We recommend that the FCC designate one license for a wholesale operation that provides open access nationwide on nondiscriminatory terms. This is necessary to enable entry of new businesses offering wireless services in retail markets. It also enables local operators to offer roaming at competitive prices. The new license accords with the Commission’s policy to encourage competition, and recognizes the benefits to consumers from low prices and expanded services.
Introduction To Research Methodologies, Professor Issam A.W. Mohamed
Introduction To Research Methodologies, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
In this book, I introduce basics of research methodologies in Arabic language which I believe is an unprecedented step. The conceptions, research frameworks, sampling and some detailed methods are given in this text book. Moreover, some analytical statistical methods are introduced to give insights to researchers. Methods of writing the scientific reports and papers in addition to documentation of references and classifying the required logical process of a thesis are detailed in this text. I introduce this book that was published by the Africa International University in Khartoum, Sudan for the purpose of helping sub and post graduate university students …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction. On behalf of J. Aron & Company and Morgan Stanley Capital Group Inc.
Product Design For Colombia’S Regulated Market, Peter Cramton
Product Design For Colombia’S Regulated Market, Peter Cramton
Peter Cramton
This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to began in 2008. The regulated market consists of residential and other small customers. Currently, regulated customers represent 69% of the total load. I propose a market based on a single load-following product in which each supplier bids to serve its desired share of the Colombia regulated load. Thus, a supplier that wins a 10% share at auction has an obligation to serve 10% of the actual regulated load in every hour of the commitment period. The supplier is paid the MOR clearing price for every …
Why Large Licenses Are Best For The 700 Mhz Spectrum Auction, Peter Cramton
Why Large Licenses Are Best For The 700 Mhz Spectrum Auction, Peter Cramton
Peter Cramton
No abstract provided.
Market-Based Alternatives For Managing Congestion At New York’S Laguardia Airport, Peter Cramton, Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, Karla Hoffman
Market-Based Alternatives For Managing Congestion At New York’S Laguardia Airport, Peter Cramton, Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, Karla Hoffman
Peter Cramton
We summarize the results of a project that was motivated by the expiration of the “High Density Rule,” which defined the slot controls employed at New York’s LaGuardia Airport for more than 30 years. The scope of the project included the analysis of several administrative measures, congestion pricing options and slot auctions. The research output includes a congestion pricing procedure and also the specification of a slot auction mechanism. The research results are based in part on two strategic simulations. These were multi-day events that included the participation of airport operators, most notably the Port Authority of New York and …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit identifying manipulation of New York's capacity market by KeySpan and the need for market monitoring and mitigation. On behalf of Consolidated Edison Company of New York.
Michael Wheeler: Reconstructing The Cognitive World: The Next Step, Leslie Marsh
Michael Wheeler: Reconstructing The Cognitive World: The Next Step, Leslie Marsh
Leslie Marsh
Michael Wheeler is the latest in a new wave of philosophical theorists that fall within a loose coalition of anti-representationalism (or anti-Cartesianism): Dynamical –, Embodied –, Extended –, Distributed –, and Situated –, theories of cognition (DEEDS an apt acronym). Against this background, cognition for Wheeler is, or should be, a more ecumenical concept. This ecumenical approach would still be amenable to making theoretical distinctions, the central one being the notion of offline and online styles of intelligence, a distinction that makes conceptual space for another closely related notion, that of propositional knowledge (knowing that) and tacit knowledge (knowing how).
Why We Need To Stick With Uniform-Price Auctions In Electricity Markets, Peter Cramton, Steven Stoft
Why We Need To Stick With Uniform-Price Auctions In Electricity Markets, Peter Cramton, Steven Stoft
Peter Cramton
Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit bids and offers for each hour and the market is cleared at the price that balances supply and demand. Buyers with bids above the clearing price pay that price, and suppliers with offers below the clearing price are paid that same price. This uniform-price auction, which occurs both daily and throughout the day, is complemented by forward energy markets. In practice, between 80 and 95 percent of wholesale electricity is traded in forward energy markets, often a month, or a year, and sometimes many years …
Colombia Firm Energy Market, Peter Cramton, Steven Stoft
Colombia Firm Energy Market, Peter Cramton, Steven Stoft
Peter Cramton
A firm energy market for Colombia is presented. Firm energy—the ability to provide energy in a dry period—is the product needed for reliability in Colombia’s hydro-dominated electricity market. The firm energy market coordinates investment in new resources to assure that sufficient firm energy is available in dry periods. Load procures in an annual auction enough firm energy to cover its needs. The firm energy product includes both a financial call option and the physical capability to supply firm energy. The call option protects load from high spot prices and improves the performance of the spot market during scarcity. The market …
How Best To Auction Oil Rights, Peter Cramton
How Best To Auction Oil Rights, Peter Cramton
Peter Cramton
I study the design of oil rights auctions. A good auction design promotes both an efficient assignment of rights and competitive revenues for the seller. The structure of bidder preferences and the degree of competition are key factors in determining the best design. With weak competition and additive values, a simultaneous first-price sealed-bid auction may suffice. With more complex value structures, a dynamic auction with package bids, such as the clock-proxy auction, likely is needed to promote the efficiency and revenue objectives. Bidding on production shares, rather than bonuses, typically increases government take by reducing oil company risk.
Beyond The Dichotomous Worlds Hypothesis: Towards A Plurality Of Corporate Governance Logics, Jordan Otten
Beyond The Dichotomous Worlds Hypothesis: Towards A Plurality Of Corporate Governance Logics, Jordan Otten
Jordan Otten
The dichotomous worlds hypothesis holds that corporate governance systems worldwide are either based on the Anglo-American shareholder model or the Eurasian stakeholder model. We suggest a more fine-grained classification, based on five corporate governance logics –socially constructed, historical patterns of material practices, assumptions, values, beliefs, and rules by which all parties involved in economic productive activities structure their material interdependencies and provide meaning to the social reality of corporate life. These logics are discovered through a content analysis of the corporate governance reform codes of 38 countries.
Theories On Executive Pay: A Literature Overview And Critical Assessment, Jordan Otten
Theories On Executive Pay: A Literature Overview And Critical Assessment, Jordan Otten
Jordan Otten
Executive pay is a major issue in the corporate governance debate. As well in practice as in theory debate still exists how executive pay levels and structures can be explained. This paper provides an overview of 16 theories that have been used in the literature to explain the phenomenon. The theories can be classified into three types of approaches; 1) the value approach; 2) the agency approach; and 3) the symbolic approach. A critical assessment of the theories shows that the dominant use in the literature of the perfect contracting approach of agency theory neglects: 1) the socially determined symbolic …