Recent Submissions

  • Strategic Technology Switching under Risk Aversion and Uncertainty 

    Sendstad, Lars Hegnes; Chronopoulos, Michail (Discussion paper;10/17, Working paper, 2017-09-12)
    Sequential investment opportunities or the presence of a rival typically hasten investment under risk neutrality. By contrast, greater price uncertainty or risk aversion increase the incentive to postpone investment in the ...
  • The Effects of a Day Off from Retail Price Competition: Evidence on Consumer Behavior and Firm Performance in Gasoline Retailing 

    Foros, Øystein; Nguyen, Mai Thi; Steen, Frode (Discussion paper;9/17, Working paper, 2017-07-06)
    First, we analyze how regular days off from competition and a time-dependent price pattern affect firm performance. Second, we examine the effects on firms' profitability from consumers’ changing search- and timing behavior. ...
  • Sulphur Abatement Globally in Maritime Shipping 

    Lindstad, Elizabeth; Rehn, Carl Fredrik; Eskeland, Gunnar S. (Discussion paper;8/17, Working paper, 2017-06-29)
    In 2016, the International Maritime Organization (IMO) decided on global regulations to reduce sulphur emissions to air from maritime shipping starting 2020. The regulation implies that ships can continue to use residual ...
  • The Zero Lower Bound and Market Spillovers: Evidence from the G7 and Norway 

    Kyritsis, Evangelos; Serletis, Apostolos (Discussion paper;7/17, Working paper, 2017-05-31)
    This paper investigates mean and volatility spillovers between the crude oil market and three financial markets, namely the debt, stock, and foreign exchange markets, while providing international evidence from each of the ...
  • Tre grupper skatteytere i søkelyset: Har de ulike kjennetegn? 

    Andersson, Jonas; Lillestøl, Jostein (Discussion paper;5/17, Working paper, 2017-03-31)
    Denne rapporten analyserer data for tre grupper av skatteytere som har vært i skatteetatens søkelys: Skatteytere som etter skatteamnesti har meldt seg frivillig med opplysninger om tidligere uoppgitt skattbar inntekt eller ...
  • Profitable Robot Strategies in Pari‐Mutuel Betting 

    Bjerksund, Petter; Stensland, Gunnar (Discussion paper;6/17, Working paper, 2017-04-07)
    We have collected odds and results from 7 474 horse races in Norway and Sweden for a period of approximately 1.5 years. Based on the odds from the win game, we construct a profitable betting strategy for the corresponding ...
  • Investor State Dispute Settlement and Multinational Firm Behavior 

    Schjelderup, Guttorm; Stähler, Frank (Discussion paper;4/17, Working paper, 2017-03-30)
    Investor-state dispute settlements (ISDS) were supposed to become an integral part of multilateral trade and investment agreements although the partner countries of these deals do not suffer from substantial institutional ...
  • How to Use One Instrument to Identify Two Elasticities 

    Gavrilova, Evelina; Zoutman, Floris T.; Hopland, Arnt O. (Discussion paper;2/17, Working paper, 2017-02-27)
    We show that an insight from taxation theory allows identification of both the supply and demand elasticities with only one instrument. Ramsey (1928) and subsequent models of taxation assume that a tax levied on the demand ...
  • How to measure greenhouse gas emissions by fuel type for binary sustainability standards: Average or Marginal emissions? An example of fertilizer use and corn ethanol 

    Zhu, Xueqin; Yan, Shiyu; Smeets, Edward; van Berkum, Siemen (Discussion paper;3/17, Working paper, 2017-02-28)
    This study proposed a modelling framework which addresses various issues such as decreasing marginal yield of corn with respect to fertilizer use in biofuel production and the resulting greenhouse gas emissions. Particularly, ...
  • Conditions for effective risk sharing against marine pollution: the case of the Ría de Vigo 

    Grossmann, Schimon; Faure, Michael (Discussion paper;1/17, Working paper, 2017-01-31)
    The question of how effective protection against environmental impairment can be provided has spawned much literature. One instrument that is often invoked to provide compensation for environmental damage is insurance. ...
  • Teams in Relational Contracts 

    Kvaløy, Ola; Olsen, Trond E. (Discussion paper;23/16, Working paper, 2016-12-16)
    We analyze relational contracting between a principal and a team of agents where only aggregate output is observable. We deduce optimal team incentive contracts under di¤erent set of assumptions, and show that the principal ...
  • Non-parametric estimation of conditional densities: A new method 

    Otneim, Håkon; Tjøstheim, Dag (Discussion paper;22/16, Working paper, 2016-12-07)
    Let X = (X1,...,Xp) be a stochastic vector having joint density function fX(x) with partitions X1 = (X1,...,Xk) and X2 = (Xk+1,...,Xp). A new method for estimating the conditional density function of X1 given X2 is presented. ...
  • Batteries in Offshore Support vessels - Pollution, climate impact and economics 

    Lindstad, Haakon Elizabeth; Eskeland, Gunnar S.; Rialland, Agathe (Discussion paper;21/16, Working paper, 2016-12-07)
    This paper assesses the pros and the cons of installing batteries on offshore support vessels. These vessels are specially designed to provide services to oil and gas operations, such as anchor handling, supply and subsea ...
  • A Bellman approach to periodic optimization problems 

    Kvamsdal, Sturla F.; Maroto, José M.; Morán, Manuel; Sandal, Leif K. (Discussion paper;19/16, Working paper, 2016-11-30)
    We consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fix-point problem for a contraction operator, and we provide a solution scheme ...
  • A bridge between continuous and discrete-time bioeconomic models: Seasonality in fisheries 

    Kvamsdal, Sturla F.; Maroto, José M.; Morán, Manuel; Sandal, Leif K. (Discussion paper;20/16, Working paper, 2016-11-30)
    We develop a discretization method for continuous-time bioeconomic models. Based on this method, we develop a discrete-time bioeconomic model to analyze seasonality in fisheries. The discretization method consists of three ...
  • Electricity Prices, Large-Scale Renewable Integration, and Policy Implications 

    Kyritsis, Evangelos; Andersson, Jonas; Serletis, Apostolos (Discussion paper;18/16, Working paper, 2016-11-22)
    This paper investigates the effects of intermittent solar and wind power generation on electricity price formation in Germany. We use daily data from 2010 to 2015, a period with profound modifications in the German electricity ...
  • The Impact of Bunker Risk Management on CO2 Emissions in Maritime Transportation Under ECA Regulation 

    Gu, Yewen; Wallace, Stein W.; Wang, Xin (Discussion paper;17/16, Working paper, 2016-11-16)
    The shipping industry carries over 90 percent of the world’s trade, and is hence a major contributor to CO2 and other airborne emissions. As a global effort to reduce air pollution from ships, the implementation of the ECA ...
  • Taxing Royalty Payments 

    Juranek, Steffen; Schindler, Dirk; Schjelderup, Guttorm (Discussion paper;16/16, Working paper, 2016-09-16)
    The digital economy is characterized by the use of intellectual property such as software, patents and trademarks. The pricing of such intangibles is widely used to shift profits to low-tax countries. We analyze the role ...
  • Pricing wind: A revenue adequate, cost recovering uniform price for electricity markets with intermittent generation 

    Zakeri, Golbon; Pritchard, Geoff; Bjørndal, Mette; Bjørndal, Endre (Discussion paper;15/16, Working paper, 2016-09-06)
    With greater penetration of renewable generation, the uncertainty faced in electricity markets has increased substantially. Conventionally, generators are assigned a pre-dispatch quantity in advance of real time, based on ...
  • Greening the Vehicle Fleet: Evidence from Norway’s CO2 Differentiated Registration Tax 

    Yan, Shiyu; Eskeland, Gunnar S. (Discussion paper;14/16, Working paper, 2016-08-31)
    Fiscal policies are used to improve vehicle fuel efficiency and reduce CO2 emissions in the transport sector. Years of forceful reform in Norway may be seen as informative. From 2007, Norway has linked its new vehicle ...

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