Research

Energy Institute at Haas

CSEM Working Papers

The Energy Institute at Haas Working Paper Series is a continuation of the Center for the Study of Energy Markets working paper series that operated under UCEI from 2001 to 2009.

WP-194

Lucas W. Davis and Erich Muehlegger, "Do Americans Consume Too Little Natural Gas? An Empirical Test of Marginal Cost Pricing" (September 2009) (Revised version published in RAND Journal of Economics, 41(4), 2010, pp. 791-810.)   Abstract | Full Paper

WP-193

Marc N. Conte and Matthew J. Kotchen, "Explaining the Price of Voluntary Carbon Offsets" (September 2009) (Revised version published in Climate Change Economics, 1(2), 2010, pp. 93-111.)  Abstract | Full Paper

WP-192

Piet Eichholtz, Nils Kok and John M. Quigley, "Doing Well by Doing Good? Green Office Buildings" (August 2009) (Revised version published in The American Economic Review, 100(6), 2010, pp. 2494-2511.)  Abstract | Full Paper

WP-191

James Bushnell, Benjamin F. Hobbs and Frank A. Wolak, "When it comes to Demand Response, is FERC its Own Worst Enemy?" (August 2009) (Revised version published in The Electricity Journal, November 2009.)  Abstract | Full Paper

WP-190

Stephen P. Holland, "Taxes and Trading versus Intensity Standards: Second-Best Environmental Policies with Incomplete Regulation (Leakage) or Market Power" (August 2009) (Revised version forthcoming in Journal of Environmental Economics and Management.)  Abstract | Full Paper

WP-189

Christopher R. Knittel, "The Implied Cost of Carbon Dioxide under the Cash for Clunkers Program" (August 2009)    Abstract | Full Paper

WP-188

Kenneth S. Corts, "Building Out Alternative Fuel Retail Infrastructure: Government Fleet Spillovers in E85" (July 2009) (Revised version published in Journal of Environmental Economics and Management, 59, 2010, pp. 219-234.)   Abstract | Full Paper

WP-187

Christopher R. Knittel, "Automobiles on Steroids: Product Attribute Trade-Offs and Technological Progress in the Automobile Sector" (July 2009).  (Revised version published in The American Economic Review, 101(7), December 2011, pp. 3368-3399.)  Abstract | Full Paper

WP-186

Meredith Fowlie, Stephen P. Holland and Erin T. Mansur, "What Do Emissions Markets Deliver and to Whom? Evidence from Southern California’s NOx Trading Program" (June 2009). (Revised version published in The American Economic Review,102(2), April 2012, pp. 1-29.)  Abstract | Full Paper

WP-185

Maximilian Auffhammer and Ryan Kellogg, "Clearing the Air? The Effects of Gasoline Content Regulation on Air Quality" (April 2009) (Revised version published in The American Economic Review, 101, October 2011, pp. 2687-2722.) Abstract | Full Paper

WP-184R

Carl Blumstein, "Program Evaluation and Incentives for Administrators of Energy-Efficiency Programs: Can Evaluation Solve the Principal/Agent Problem?" (Revised October 2010) (Revised version published in Energy Policy, 38, 2010, pp. 6232-6239.)  Abstract | Full Paper

WP-183

James Bushnell and Yihsu Chen, "Regulation, Allocation, and Leakage in Cap-and-Trade Markets for CO2" (March 2009)  Abstract | Full Paper

WP-182

Severin Borenstein, "The Implications of a Gasoline Price Floor for the California Budget and Greenhouse Gas Emissions", (November 2008) Abstract | Full Paper

WP-181

Meredith Fowlie, Christopher R. Knittel and Catherine Wolfram, "Sacred Cars? Optimal Regulation of Stationary and Non-stationary Pollution Sources"(November 2008) (Revised version published in American Economic Journal: Economic Policy, Vol. 4, February 2012, pp. 98-126.) Abstract | Full Paper

WP-180

Severin Borenstein, "Equity Effects of Increasing-Block Electricity Pricing" (November 2008) Abstract | Full Paper

 

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WP-179

Matthew J. Kotchen and Laura E. Grant, "Does Daylight Saving Time Save Energy? Evidence from a Natural Experiment in Indiana" (November 2008) (Revised version published in The Review of Economics and Statistics, 93 (2011) 1172-1185) Abstract | Full Paper

WP-178

Stephen P. Holland and Michael R. Moore, "When to Pollute, When to Abate? Intertemporal Permit Use in the Los Angeles NOx Market" (May 2008)(Revised verison published in Land Economics (2012) 88(2) 275-299), Abstract | Full Paper

WP-177R

Severin Borenstein, "Cost, Conflict and Climate: U.S. Challenges in the World Oil Market (Revised version published in Milken Institute Review, 4th Quarter 2008.) Abstract | Full Paper

WP-176

Severin Borenstein, "The Market Value and Cost of Solar Photovoltaic Electricity Production (January 2008) Abstract | Full Paper

WP-175

Meredith Fowlie, "Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage" (December 2007) (Revised version published in American Economic Journal: Economic Policy 1(2) 2009.) Abstract | Full Paper

WP-174

Severin Borenstein, Meghan Busse and Ryan Kellogg, "Career Concerns, Inaction, and Market Inefficiency: Evidence from utility regulation" (Revised December 2010) (Revised version published in Journal of Industrial Economics, 60(2), June 2012.) Abstract | Full Paper

WP-173

Ryan Kellogg, "Learning by Drilling: Inter-Firm Learning and Relationship Persistence in the Texas Oilpatch" (November 2007) (Revised version published in the Quarterly Journal of Economics, 126, November 2011, pp. 1961-2004.) Abstract | Full Paper

WP-172

Severin Borenstein, "Electricity Rate Structures and the Economics of Solar PV: Could Mandatory Time-of-Use Rates Undermine California’s Solar Photovoltaic Subsidies?" (September 2007) Abstract | Full Paper

WP-171

Jeffrey Harris, Rick Diamond, Maithili Iyer, Christopher Payne, Carl Blumstein, Hans-Paul Siderius, "Towards a Sustainable Energy Balance: Progressive Efficiency and the Return of Energy Conservation" (September 2007) (Revised version published in Energy Efficiency, 1(3), 175, 2008,) Abstract | Full Paper

WP-170

James Bushnell, "The Implementation of California AB 32 and its Impact on Wholesale Electricity Markets" (August 2007) (Revised version published in Climate Policy, Vol. 8, 2008.) Abstract | Full Paper

WP-169

Olivier Deschenes and Michael Greenstone, "Climate Change, Mortality, and Adaptation: Evidence from Annual Fluctuations in Weather in the US" (August 2007) (Revised version published in American Economic Journal: Applied Economics,3(4): 152-185, October 2011) Full Paper

WP-168

James B. Bushnell and Catherine Wolfram,"The Guy at the Controls: Labor Quality and Power Plant Efficiency" (June 2007) (Revised version published in International Differences in the Business Practices and the Productivity of Firms, University of Chicago Press, 2009.) Full Paper

WP-167

Stephen P. Holland, Christopher R. Knittel and Jonathan E. Hughes, "Greenhouse Gas Reductions under Low Carbon Fuel Standards?" (May 2007) (Revised version published in The American Economic Journal: Economic Policy 1(1), February 2009.)) Full Paper

WP-166

James Bushnell, Carla Peterman, Catherine Wolfram, "California’s Greenhouse Gas Policies: Local Solutions to a Global Problem?" (2007) Full Paper

WP-165R

Maximilian Auffhammer, Carl Blumstein, Meredith Fowlie, "Demand-Side Management and Energy Efficiency Revisited" (April 2007) (Revised version published in The Energy Journal, 29(3) 2008.) Full Paper

WP-164

James Bushnell and Jun Ishii, "An Equilibrium Model of Investment in Restructured Electricity Markets" (January 2007) Full Paper

WP-163

Ryan Kellogg and Hendrik Wolff, "Does Extending Daylight Saving Time Save Energy? Evidence From an Australian Experiment" (January 2007) (Revised version published in Journal of Environmental Economics and Management, 56, 2008.) Full Paper

WP-162R

Robert Letzler, "Using Incentive Preserving Rebates to Increase Acceptance of Critical Peak Electricity Pricing" (Revised May 2010) Full Paper

WP-161

Jennifer Kaiser Shanefelter, "Restructuring, Ownership and Efficiency: The Case of Labor in Electricity Generation" (November 2006), Full Paper

WP-160

Nathaniel O. Keohane, Erin T. Mansur, and Andrey Voynov, "Averting Enforcement: Strategic Response to the Threat of Environmental Regulation" (October 2006) (Revised version published in Journal of Economics and Management Strategy, 18(1), Spring 2009.) Full Paper

 

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WP-159

Jonathan E. Hughes, Christopher R. Knittel, and Daniel Sperling, "Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand" (September 2006) (Revised version published in The Energy Journal 29(1), January 2008.) Full Paper

WP-158

Olivier Deschenes, "The Economic Impacts of Climate Change: Evidence from Agricultural Profits and Random Fluctuations in Weather" (2007) (Revised version published in American Economic Review, 102(7): 3761-3773, December 2012) Full Paper

WP-157

James B. Bushnell and Catherine Wolfram, "The Economic Effects of Vintage Differentiated Regulations: The Case of New Source Review" (July 2006) (Revised version forthcoming in Journal of Environmental Economics and Management.) Full Paper

WP-156

Severin Borenstein, "Wealth Transfers Among Large Customers from Implementing Real-Time Retail Electricity Pricing " (July 2006) (Revised version published in The Energy Journal, 28(2) 2007.) Full Paper

WP-155

Severin Borenstein, "Customer Risk from Real-Time Retail Electricity Pricing: Bill Volatility and Hedgability" (July 2006) (Revised version published in The Energy Journal, 28(2) 2007.) Full Paper

WP-154

Richard Green and Chloe Le Coq, "The Length of Contracts and Collusion" (Revised version published in International Journal of Industrial Organization, Elsevier, Elsevier, vol. 28(1), pages 21-29, January 2010) Full Paper

WP-153

Chloe Le Coq "Index Contracts and Spot Market Competition" (2006) Full Paper

WP-152

Amol Phadke, "Feasibility of Wholesale Electricity Competition in a Developing Country: Insights from Simulating a Market in Maharashtra State, India" (June 2006) Full Paper

WP-151

Frank Wolak, "Residential Customer Response to Real-Time Pricing: The Anaheim Critical-Peak Pricing Experiment" (May 2006) Full Paper

WP-150

Bert Willems, "Virtual Divestitures, Will They Make a Difference? Cournot Competition, Option Markets and Efficiency" (May 2006) Full Paper

WP-149

Meredith Fowlie, "Emissions Trading, Electricity Industry Restructuring, and Investment in Pollution Abatement" (November 2005) (Revised version published in American Economic Review, 100(3), 2010.) Full Paper

WP-148R

James Bushnell, "Oligopoly Equilibria in Electricity Contract Markets" (October 2006) (Revised version published in Journal of Regulatory Economics, Vol. 32, 2008.) Full Paper

WP-147

Severin Borenstein, "Wealth Transfers from Implementing Real-Time Retail Electricity Pricing" (August 2005) (Revised version publised in The Energy Journal, 28(2), 2007) Full Paper

WP-146

James Bushnell, "Electricity Resource Adequacy: Matching Policies and Goals" (August 2005) (Revised version published in The Electricity Journal, September 2005) Full Paper

WP-145

Guido Pepermans and Bert Willems, "Ramsey Pricing in a Congested Network with Market Power in Generation: A Numerical Illustration for Belgium" (June 2005) Full Paper

WP-144

Severin Borenstein and James Bushnell, "Retail Policies and Competition in the Gasoline Industry" (May 2005)

Full Paper

WP-143R

Stephen P. Holland and Erin T. Mansur, "The Short-Run Effects of Time-Varying Prices in Competitive Electricity Markets" (May 2006) (Revised version published in The Energy Journal, 27(4): 127-155, 2006.) Full Paper

WP-142

Severin Borenstein, "Valuing the Time-Varying Electricity Production of Solar Photovoltaic Cells" (March 2005) Full Paper

WP-141

Julie Berry Cullen, Leora Friedberg, Catherine Wolfram, "Do Households Smooth Small Consumption Shocks? Evidence from Anticipated and Unanticipated Variation in Home Energy Costs" (April 2005) Full Paper

WP-140

James B. Bushnell and Catherine Wolfram, "Ownership Change, Incentives and Plant Efficiency: The Divestiture of U.S. Electric Generation Plants" (March 2005) Full Paper

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WP-139

Bert Willems, "Cournot Competition, Financial Option Markets and Efficiency" (March 2005) Full Paper

WP-138

Severin Borenstein, James Bushnell, Christopher R. Knittel, Catherine Wolfram, "Inefficiencies and Market Power in Financial Arbitrage: A Study of California's Electricity Markets" (December 2004) (Revised version published in Journal of Industrial Economics, 56(2) 2008.) Full Paper

WP-137

Meghan R. Busse and Nathaniel O. Keohane, "Market Effects of Environmental Regulation: Coal, Railroads, and the 1990 Clean Air Act" (September 2004) (Revised version published in The Rand Journal of Economics, 38(4), 2007.)

Full Paper

WP-136R

Stephen P. Holland and Erin T. Mansur, "Is Real-Time Pricing Green?: The Environmental Impacts of Electricity Demand Variance" (September 2006) (Revised version published in Review of Economics and Statistics, 90(3), August 2008.) Full Paper

WP-135R

Kira M. Fabrizio, Nancy L. Rose, Catherine Wolfram, "Does Competition Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency" (December 2004) (Revised version published in The American Economic Review, Vol. 97, September 2007, pp. 1250-1277.)

Full Paper

WP-134

Frank Wolak, "Lessons from International Experience with Electricity Market Monitoring" (June 2004) Full Paper

WP-133R

Severin Borenstein, "The Long-Run Efficiency of Real-Time Electricity Pricing" (Revised February 2005) (Revised version published in Energy Journal 26(3), 2005.) Full Paper

WP-132

Severin Borenstein, James Bushnell and Matthew Lewis, "Market Power in California's Gasoline Market" (May 2004) Full Paper

WP-131

Dae-Wook Kim and Christopher R. Knittel, "Biases in Static Oligopoly Models?: Evidence from the California Electricity Market " (May 2004) (Revised version published in Journal of Industrial Economics, December 2006, 54(4): 451-70.) Full Paper

WP-130

Paul Joskow and Jean Tirole, "Retail Electricity Competition " (April 2004) (Revised version published in Rand Journal of Economics, 37(4), Winter 2006.) Full Paper

WP-129

Paul Joskow and Jean Tirole, "Reliability and Competitive Electricity Markets" (April 2004) (Revised version published in Rand Journal of Economics, 38(1), Spring 2007.) Full Paper

WP-128

Jun Ishii, "Technology Adoption and Regulatory Regimes: Gas Turbines Electricity Generators from 1980 to 2001" (February 2011) Full Paper

WP-127

Jun Ishii and Jingming Yan, "Investment under Regulatory Uncertainty: U.S. Electricity Generation Investment Since 1996" (March 2004) Full Paper

WP-126R

James Bushnell, Erin T. Mansur, and Celeste Saravia, "Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured U.S. Electricity Markets" (Revised February 2005) (Revised version published in American Economic Review, 98(1) 2008.) Full Paper

WP-125R

Ali Hortacsu and Steven L. Puller, "Testing Strategic Models of Firm Behavior in Restructured Electricity Markets: A Case Study of ERCOT" (Revised November 2004) (Revised version published in RAND Journal of Economics, 39(1), Spring 2008. ) Full Paper

WP-124

Anna Creti and Natalia Fabra, "Capacity Markets for Electricity" (February 2004) (Revised version published in Energy Economics, 29(2), March 2007.) Full Paper

WP-123

Catherine Waddams, "Spoilt for Choice? The Costs and Benefits of Opening UK Residential Markets" (February 2004) Full Paper

WP-122

Natalia Fabra, Nils-Henrik von der Fehr, and David Harbord, "Designing Electricity Auctions" (February 2004) (Revised version published in Rand Journal of Economics, Vol. 37(1), Spring 2006.) Full Paper

WP-121

Celeste Saravia, "Arbitrageurs on Efficiency and Market Power in the New York Electricity Market" (November 2003) Full Paper

WP-120

Matt Lewis, "Asymmetric Price Adjustment and Consumer Search: An Examination of the Retail Gasoline Market" (November 2003) (Revised version published in Journal of Economics & Management Strategy, Wiley Blackwell, vol. 20(2), pages 409-449, 06) Full Paper

 

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WP-119

James Bushnell, "California's Electricity Crisis: A Market Apart?" (November 2003) (Revised version published in Energy Policy, Vol. 32: 1045-1052, 2004.) Full Paper

WP-118

Shulamit Kahn and Christopher R. Knittel, "The Impact of the Clean Air Act Amendments of 1990 on Electric Utilities and Coal Mines: Evidence from the Stock Market" (September 2003) Full Paper

WP-117

Erin T. Mansur, "Vertical Integration in Restructured Electricity Markets: Measuring Market Efficiency and Firm Conduct" (October 2003) (Revised version published in Review of Economics and Statistics, 90(2), May 2008.) Full Paper

WP-116

Severin Borenstein and Stephen P. Holland, "On the Efficiency of Competitive Electricity Markets With Time-Invariant Retail Prices" (August 2003) (Revised version published in Rand Journal of Economics, 36 (Autumn 2005)) Full Paper

WP-115

Carl Blumstein, Charles Goldman, and Galen Barbose, "Who Should Administer Energy-Efficiency Programs?" (August 2003) (Revised version published in Energy Policy, 33, p.1053 (2005).) Full Paper

WP-114

Frank Wolak, "Measuring Unilateral Market Power in Wholesale Electricity Markets: The California Market 1998 - 2000" (June 2003) (Revised version published in American Economic Review, May 2003; 93(2):425-30.) Full Paper

WP-113

Jonathan Kolstad and Frank Wolak, "Using Environmental Emissions Permit Prices to Raise Electricity Prices: Evidence from the California Electricity Market" (May 2003) Full Paper

WP-112

Monica Giulietti, Catherine Waddams Price, and Michael Waterson, "Consumer Choice and Industrial Policy: a Study of UK Energy Markets" (April 2003) (Revised version published in The Economic Journal, 115, October 2005.) Full Paper

WP-111R

Catherine Wolfram, "The Efficiency of Electricity Generation in the US After Restructuring" (Revised June 2003) (Revised version published in Electricity Deregulation: Choices and Challenges, Griffin and Puller, eds., University of Chicago Press, 2005.) Full Paper

WP-110R

Frank Wolak, "Lessons from the California Electricity Crisis" (Revised May 2003) (Revised version published in Electricity Deregulation: Choices and Challenges, Griffin and Puller, eds., University of Chicago Press, 2005.) Full Paper

WP-109R

James Bushnell, "Looking for Trouble: Competition Policy in the U.S. Electricity Industry" (Revised April 2003) (Revised version published in Electricity Deregulation: Choices and Challenges, Griffin and Puller, eds., University of Chicago Press, 2005.) Full Paper

WP-108R

Jun Ishii, "From Investor-owned Utility to Independent Power Producer" (Revised January 2006) (Revised version published in Energy Journal, 27(3), 2006.) Full Paper

WP-107

Jun Ishii and Jingming Yan, "Does Divestiture Crowd-Out New Investment? The 'Make or Buy' Decision in U.S. Electricity Generation Investments" (Revised January 2006) (Revised version published in Rand Journal of Economics, 38(1), 2007.) Full Paper

WP-106

Severin Borenstein and Stephen P. Holland, "Investment Efficiency in Competitive Electricity Markets With and Without Time-Varying Retail Prices" (July 2003) Full Paper

WP-105

Severin Borenstein, Michael Jaske, and Arthur Rosenfeld, "Dynamic Pricing Advanced Metering and Demand Response in Electricity Markets" (October 2002) (Revised version of Section I published in Electricity Deregulation: Choices and Challenges, Griffin and Puller, eds., University of Chicago Press, 2005.) Full Paper

WP-104

Ross Baldick, "Variation of Distribution Factors with Loading" (September 2002) (Revised version published in IEEE Transactions on Power Systems 18(4):1316-1323, November 2003.) Full Paper

WP-103

Carl Blumstein, L. S. Friedman, R. J. Green, "The History of Electricity Restructuring in California" (August 2002) (Revised version published in Journal of Industry, Competition, and Trade, 21(1) 9 (2002).) Full Paper

WP-102

Severin Borenstein, James Bushnell and Frank Wolak, "Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market" (June 2002) (Revised version published in American Economic Review, Vol. 92, No. 5:1376-1405, Winter 2002.) Full Paper

WP-101

James Bushnell and Celeste Saravia, "An Emperical Assessment of the Competitiveness of the New England Electricity Market" (May 2002). Full Paper

 

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