A Dynamic Game of Technology Diffusion under an Emission Trading Regulation: A Pilot Experiment

In this paper we investigate how the interaction between the product and the emission permit markets may affect firms' propensity to adopt cleaner technologies. The adoption of a cleaner technology has the direct effect of reducing the compliance cost of the firm, but it also involves a strategic decision, if the industry is not perfectly competitive. We look at this problem from both a theoretical and an experimental point of view. We develop a model of duopoly, in which two firms engage in quantity competition in the output market and behave as price takers in the permit market. Firms have the possibility of investing in a cleaner production technology, which is available on the market at some cost. We set up a dynamic game over an infinite horizon in order to investigate firms' investment decisions: in each period, each firm decides whether to invest in the new technology or not. The stationary equilibria to this game crucially depend on both the cost of switching to the cleanest technology and the emission cap. Technology diffusion is one of the possible equilibria of the game. In order to test the predictions of the theory, we design and implement an "innovation experiment" that replicates the "innovation game". The results of our pilot experiment suggest that firms' behaviour will eventually lead to innovation diffusion.tradable permits; technology adoption; oligopoly; laboratory experiments

Quantum interference of electrons in a ring: tuning of the geometrical phase

We calculate the oscillations of the DC conductance across a mesoscopic ring, simultaneously tuned by applied magnetic and electric fields orthogonal to the ring. The oscillations depend on the Aharonov-Bohm flux and of the spin-orbit coupling. They result from mixing of the dynamical phase, including the Zeeman spin splitting, and of geometric phases. By changing the applied fields, the geometric phase contribution to the conductance oscillations can be tuned from the adiabatic (Berry) to the nonadiabatic (Ahronov-Anandan) regime. To model a realistic device, we also include nonzero backscattering at the connection between ring and contacts, and a random phase for electron wavefunction, accounting for dephasing due to disorder.Comment: 4 pages, 3 figures, minor change

The Impact of market structure and price discrimination strategies in the airline sector

This paper investigates which factors influence airlines’ decisions when planning pricing strategies. We explore the impact of market structure and airlines pricing behaviour in a specific geographical context characterised by a low level of intermodal competition. The data used is, in fact, collected on a sample of southern Italian routes, for which alternative accessibility through different modes of transport is limited. We focus primarily on a specific type of pricing strategy: the intertemporal price discrimination (IPD). The IPD consists in charging different fares to different travellers according to the days missing to departure when the ticket is bought. The work aims to verify whether market’s concentration levels play a significant role in defining fare levels and, more in particular, whether airlines are more or less keen to engage in IPD when competition increases or when it reduces. The paper is structured as follows. In Section 2 we survey the relevant literature; the data collection is described Section 3 and in Section 4 we present the empirical strategy. Afterward, in Section 5 we discuss the main outcomes and in Section 6 we draw some conclusions.

Leaders\u2019 competence and warmth: Their relationships with employees\u2019 well-being and organizational effectiveness

The aim of this work was to investigate competence and warmth \u2014 the two basic dimensions of social judgment \u2014 as dimensions employees use to evaluate their supervisors. A mediation model was tested in which supervisor\u2019s perceived competence and warmth were associated with relevant outcomes (lower burnout, weaker turnover intentions, more frequent citizenship behaviors) through the mediation of affective organizational commitment (AOC). In Study 1, data were collected from employees of a company in the water service sector. In Study 2, participants were financial promoters. In Study 3, the sample included employees from different organizations. As hypothesized, the perception of one\u2019s supervisor as competent (Studies 1-3) and warm (Study 3) was related to employees\u2019 lower burnout, weaker turnover intentions, more frequent prosocial behaviors through the mediation of AOC. Theoretical and practical implications of findings are discussed

Property Type, Size, and REIT Value

This study documents the wide deviation of securitized real estate assets in equity REITs from the value of the underlying commercial properties. A procedure for estimating the net asset value of REITs is developed and the estimates are used to investigate the sources of premiums/discounts from net asset value in a large sample of equity REITs. To avoid measurement error bias, two-way analysis of variance is used to test for differences among size and property-type categories. The results indicate that retail REITs trade at significant premiums relative to the average REIT while warehouse/industrial REITs trade at discounts and small REITs trade at significant discounts while large REITs trade at premiums. The discounts and premiums from net asset value do not translate into higher cash flow yields.

Determinants of Real House Price Dynamics

We explore the dynamics of real house prices by estimating serial correlation and mean reversion coefficients from a panel data set of 62 metro areas from 1979-1995. The serial correlation and reversion parameters are then shown to vary cross sectionally with city size, real income growth, population growth, and real construction costs. Serial correlation is higher in metro areas with higher real income, population growth and real construction costs. Mean reversion is greater in large metro areas and faster-growing cities with lower construction costs. Empirically, substantial overshooting of prices can occur in high real construction cost areas, which have high serial correlation and low mean reversion, such as the coastal cities of Boston, New York, San Francisco, Los Angeles and San Diego.

Human Resources Management nel settore ferroviario: l’approccio di NTV.

In un mercato liberalizzato da poco e controllato da ex “campioni nazionali”, quale quello dei servizi ferroviari, per i newcomers, è necessario individuare strumenti che consentano di acquisire un vantaggio competitivo tale da renderne sostenibile la presenza sul mercato. In Italia, NTV, la società che da qualche anno opera in concorrenza con Trenitalia sull’alta velocità, ha puntato su strategie innovative per il settore ferroviario. L’approccio adottato poggia sulla convinzione che qualità del servizio offerto alla clientela e soddisfazione del personale siano due aspetti della stessa realtà. Ciò ha spinto la direzione della nuova società di servizi ferroviari, ad adottare pratiche di Human Resources Management basate sulle teorie motivazionaliste le quali pongono al centro del successo di un’impresa il benessere e la dedizione dei sui dipendenti. Trenitalia ha svolto sotto questo profilo, il ruolo del follower. Ha, di fatto, subito l’innovazione di processo e di sistema introdotta da NTV, adeguandosi con lentezza e, sotto le spinte anche demand driven da parte di una clientela sempre più esigente, ha proceduto, anch’essa, a riorganizzare la gestione delle risorse umane. Si tratta proprio di una delle ricadute positive – i cosiddetti spill-over effects – più evidenti del processo di apertura del mercato ferroviario alla concorrenza in Italia. Il presente lavoro si apre con l'analisi degli interventi normativi che si sono succeduti e che hanno progressivamente liberalizzato il mercato del trasporto ferroviario. Segue la rassegna delle principali teorie e dei modelli di organizzazione del lavoro che si sono sviluppati con la rivoluzione industriale. Viene poi illustrata la Human Resources Management, gli elementi su cui si fonda, e come viene implementata da NTV, rispetto alla politica retributiva, alle relazione industriali, al benessere dei dipendenti e alla loro selezione e formazione. Alcune considerazioni conclusive chiudono il lavoro

Health Coverage Expansion in California: What Can Consumers Afford to Spend?

Analyzes Californians' current spending on insurance premiums and out-of-pocket expenditures to assess whether proposals to make obtaining health insurance mandatory include sufficient measures to make it affordable for low- and middle-income families