This study investigates the complicated nonlinear effects of demand-bid price sensitivity and supply-offer price caps on Locational Marginal Prices (LMPs) for bulk electric power when profit-seeking generators can learn over time how to strategize their supply offers. Systematic computational...

This study reports on the model development and open-source implementation (in Java) of an agent-based computational wholesale power market organized in accordance with core FERC-recommended design features and operating over a realistically rendered transmission grid subject to congestion...

This study provides a detailed discussion of the C++ implementation of the Trade Network Game (TNG), a computational framework for studying the formation and evolution of trade networks in buyer-seller markets modeled as decentralized systems of autonomous strategically interacting agents with...

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating in the short run under systematically varied concentration and capacity conditions. The pricing of electricity is determined by means of a clearinghouse double auction...

Research and Development (R&D) and innovation are crucial features of the seed industry. To support large R&D investments by the private sector, strong intellectual property rights, such as patents, are necessary. The exclusivity granted by patents naturally creates market power positions and...

This article measures the willingness to pay for the traceability of steers. I use data on the price of steers in Quebec and Ontario to identify a demand shifter in a hedonic framework. I estimate error correction models to provide the first market-based econometric estimates of the willingness...

This article measures the willingness to pay for the traceability of steers. I use data on the price of steers in Quebec and Ontario to identify a demand shifter in a hedonic framework. I estimate error correction models to provide the first market-based econometric estimates of the willingness...

 We develop a reputation model to study the concurrent use of trademarks and certification for food products with a regional identity, known as geographical indications (GIs). The model extends Shapiro’s (1983) approach to modeling reputation to a situation in which two technologies for the...

The link between measured risk aversion and the decision to become an entrepreneur is well established, but the link between risk preferences and entrepreneurial success is not. Standard theoretical models of occupational choice under uncertainty imply a positive correlation between an...