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on Project, Program and Portfolio Management |
| By: | Gabriella Doci; Eleftheria Vasileiadou |
| Abstract: | The paper analyses individual motivations for partaking in local renewable projects and generating energy jointly in an investment community. To do so, we applied a socio-psychological approach for studying renewable energy communities in Germany and the Netherlands. Our results show that mainly gain and normative considerations played a role in the decision, but in the background hedonic motivations were also present. Although, these considerations were driven mostly from the individual’s perspective we also found group motivations, such as strengthening the local community and improving the neighborhood’s condition. Each of the groups examined were formed in already existing strong communities, where trust was relatively high, which seems to be an important condition for the realization of local energy projects. Consequently, we argue that tailor-made incentives addressing the dominant motivations can help the most effectively the operation and spread of renewable energy communities. |
| Keywords: | renewable energy communities, motivations, goal-framing theory, joint investment |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:ein:tuecis:1408&r=ppm |
| By: | Gaudeul, A.; Crosetto, P.; Riener, G. |
| Abstract: | We explore in an experiment what leads to the breakdown of partnerships. Subjects are assigned a partner and participate in a repeated public good game with stochastic outcomes. They can choose each period between staying in the public project or working on their own. There is excessive exit as subjects overestimate the likelihood their partner will leave. High barriers to exit thus improve welfare. We observe that exit is driven by failure within the common project but also by pay-off comparisons across options and beliefs about being exploited. Those considerations increasingly matter as we lower exit costs across treatments. |
| Keywords: | BREAKUP;COLLABORATION;COOPERATION;EXIT;IMPERFECT PUBLIC MONITORING;MORAL HAZARD;PARTNERSHIP;PUNISHMENT;PUBLIC GOOD;REPEATED GAME;SOCIAL RISK;TEAM |
| JEL: | C23 C92 H41 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:gbl:wpaper:2014-02&r=ppm |
| By: | Quisumbing, Agnes R.; Rubin, Deborah; Manfre, Cristina; Waithanji, Elizabeth; van den Bold, Mara; Olney, Deanna K.; Meinzen-Dick, Ruth Suseela |
| Abstract: | This paper explores initial findings from four case studies in the Gender, Agriculture, and Assets Project on changes in gender relations in different agricultural interventions. It documents the adaptive measures projects are taking to encourage gender-equitable value chain projects. Findings suggest that the dairy and horticulture value chain cases have successfully increased the stock of both men’s and women’s tangible assets and those assets they own jointly. |
| Keywords: | Gender, Women, assets, Agricultural development, evaluation, food security, Smallholders, Value chain, |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:1321&r=ppm |
| By: | Congressional Budget Office |
| Abstract: | Projections of income earned by individuals and businesses are an integral part of CBO's regular 10-year projections of the economy and a key component of its projections of federal revenues and outlays. |
| Date: | 2013–07–25 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:report:44433&r=ppm |
| By: | Renner, Marie |
| Abstract: | As policy makers assess strategies to reduce greenh ouse gas emissions (GHG), they need to know the available technical options and the conditions unde r which these options become economically attractive. Carbon Capture and Storage (CCS) techniques are widely considered as a key option for climate change mitigation. But integrating CCS tech niques in a commercial scale power plant adds significant costs to the capital expenditure at the start of the project and to the operating expenditure throughout its lifetime. Its additional costs can b e offset by a sufficient CO2 price but most markets have failed to put a high enough price on CO2 emissions: currently, the weak Emission Unit Allowances price threatens CCS demonstration and deployment in the European Union (EU). A different dynamic is rising in China: a carbon regulation is setting up and CCS techniques seem to encounter a rising interest as suggest their inclusion in the 12th Five-Year Plan and the rising number of CCS projects identifies/planned. However, there are very few in-depth techno-economic studies on CCS costs. This study investigates two related questions: how much is the extra-cost of a CCS plant in the EU in comparison with China? And then, what is the CO2 price beyond which CCS power plants become more profitable/economically attractive than classic power plants, in the EU and in China? To answer these questions, I first review, analyze and compare publ ic studies on CCS techniques in order to draw an objective techno-economic panorama in the EU and China. Then, I develop a net present value (NPV) model for coal and gas plants, with and without CCS, in order to assess the CO2 price beyond which CCS plants become the most profitable power plant type. This CO2 value is called CO2 switching price. I also run some sensitivity analyses to assess the impact of different parameter variations on this CO2 switching price. I show that CCS power plants become the most profita ble baseload power plant type with a CO2 price higher than 115 €/t in the EU (offshore transport and storage costs) against 33 €/t (onshore transport and storage costs) or 47 €/t (offshore tr ansport and storage costs) in China. When the CO2 price is high enough, CCS gas plants are the most profitable power plant type in the EU whereas these are CCS coal plants in China. Through this study, I advise investors on the optimal power plant type choice depending on the CO2 market price, and suggest an optimal timing for CCS investment in the EU and China. |
| Keywords: | Politique de l'environnement; Fiscalité écologique; Taxe sur le dioxyde de carbone; Captage et stockage du dioxyde de carbone; Gaz à effet de serre; Réduction; |
| JEL: | Q58 Q56 Q53 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:dau:papers:123456789/12983&r=ppm |
| By: | Mihai, Cornelia; Toderita, Alexandra |
| Abstract: | Recent evidence shows that that over 60% of private investment contracts have been canceled due to the lack of private co-financing. Basically, a large part of the EU funds for agricultural development cannot be accessed due to the current poor access to finance of (small and medium-size) farmers. Several factors, such as guarantees of up to 150% of the loan value, low profitability, or high default risk that hinder the sector’s access to the credit market, should be mitigated by state intervention. Such a measure can be included in the 2014-2020 RDP, consistent with the European Commission’s recommendation to include financial instruments for supporting access to finance for farmers and agricultural associations. The analysis presented in this paper builds on the solutions proposed in a previous CRPE report focusing on microcredit, based on the existing mechanisms of the state. Firstly, it aims to support OUG 43/2013 by establishing: (1) a fund for middle-size farms for investment of up to 300,000 Euro, significantly lower than the previous ceiling of 3 mil. Euro and (2) a microcredit fund (max. 25,000 Euro), both measures coupled with an interest rate subsidy facility. Ultimately, the aim is to reduce the interest rate that farmers are facing by at least 4 percentage points. Secondly, we propose extending and improving the instruments designed for bearing part of the risk burden, through (1) a state aid scheme for reducing the cost of the guarantees for projects undertaken by young farmers and start-ups, and (2) providing 100% guarantee for young farmers that access RDP funds for agricultural investment. |
| Keywords: | agriculture, credit, guarantee, financial instrument, interest rate subsidy |
| JEL: | Q0 Q16 |
| Date: | 2013–10–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:55008&r=ppm |
| By: | Paul COLLIER (Blavatnik School of Government) |
| Abstract: | 1. Introduction Necessarily, all donors will focus increasingly on fragile states. The more successful countries in Africa have achieved growing tax bases and are consequently now gaining access to global capital markets. For such countries, aid is becoming marginal. In contrast, fragile states, by the nature of their condition, have small tax bases and face risks which deter private capital: for them aid remains potentially important. Not only do donors provide a substantial proportion of government revenues; they bring expertise which is sorely lacking in fragile states; and they change incentives for government both intentionally through the conditions they set, and unintentionally through the revenues and expertise they provide. Donor practices have evolved considerably over recent decades. Donors have gradually learned how to operate effectively in those states which have governments that are reasonably representative of the interests of their citizens, and reasonably competent in managing public spending. In such states budget support free of policy conditions is likely to be the most effective modality for providing aid. Government ownership of an aid program maximizes the benefit from the superior local knowledge that it has, and minimizes interference in the accountability of government to citizens. Unfortunately, fragile states are not usually characterized by the combination of governments that are reasonably representative of the interests of their citizens, and reasonably competent in managing public spending: if they had both of these characteristics they would probably not be fragile. Yet without these characteristics, unconditional budget support is liable to be ineffective and can easily be counterproductive. Donor money is unlikely to be well-spent and can undermine the capacities that the state needs to develop. Donors therefore appear to face a dilemma. If the neediest countries are those in which aid is least effective, in allocating aid between countries the donor is faced with an uncomfortable trade-off between need and effectiveness. |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:fdi:wpaper:1477&r=ppm |
| By: | Matthijs Janssen; Carolina Castaldi; Alexander Alexiev |
| Abstract: | For both managers and policy makers involved in innovation, capability failures regarding development of new services are a major concern. Efforts to strengthen those capabilities, and evaluation thereof, demand more comprehensive insight in firms’ actual abilities to source ideas and convert them into marketable service propositions. This paper aims to provide clarity by operationalizing a set of dynamic service innovation capabilities (DSICs). We first review how existing conceptualizations adopt recent insights from the dynamic capability view, which emphasizes the need to identify microfoundations corresponding to a limited set of common constructs. One of the encountered conceptualizations, consolidating earlier works in specific service sectors, was found appropriate for gauging DSICs across a wide range of industries. It exemplifies how DSICs can be conceptualized according to the so-called synthesis approach to service innovation by capturing insights on the evolutionary properties of the creation of novel solutions. Secondly, we operationalize a refined version of such DSICs and develop a measurement scale, using two subsamples from a dataset of 391 Dutch firms. The measured capabilities are found to correlate to different extents with performance measures. Our main contribution, a validated scale for five complementary DSICs, opens the way to comparative analyses which are of relevance for further research, management and policy development. |
| Keywords: | Dynamic capabilities, service innovation, measurement scale |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:ein:tuecis:1407&r=ppm |