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A major concern in the design of wholesale electricity markets is the potential for the exercise of market power by generating unit owners. To better understand the determinants of generating unit...
The Comisión de Regulación de Energía y Gas (CREG) has proposed a new mechanism for determining and assigning the reliability charge in the Colombian wholesale electricity market (CxC) and an elec...
In response to a recently dismissed antitrust lawsuit against the National Residency Matching Program (NRMP), Jeremy Bulow and Jonathan Levin (2006) show that when firms set impersonal salaries simult...
Short Term Contracts and Long Term Agency Relationships.
Matching with Contracts     Matching  Contracts       2015/7/21
We develop a model of matching with contracts which incorporates, as special cases, the college admissions problem, the Kelso-Crawford labor market matching model, and ascending package auctions. We i...
We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making...
The early development of large multidivisional corporations in Latin America required much more than capable managers, new technologies, and large markets. Behind such corporations was a market for ca...
Agriculture, more than any other sector, is a provider of temporary jobs. The main aim of the paper is to analyze the impact of the temporary contract in agriculture on the probability of remaining em...
Ag Land Contracts: Risk or Transac3on Costs?
We study historical calibration of one- and two-factor models that are known to describe relatively well the dynamics of energy underlyings such as spot and index natural gas or oil prices at differe...
We show that, in an efficient market, a zero-cost contract featuring a unilateral right to cancel has to charge a fee for a cancellation, and at the same time it is due to bias the market price in fav...

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