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1. Ownership in the Electricity Market: Property, the Firm, and the Climate Crisis

Author:
Gregory Ferguson-Cradler
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
Abstract:
Electricity is a key area in climate mitigation. The sector needs to significantly expand while transitioning to renewable production, all in an extremely short timeframe. This paper focuses on ownership and control in the electricity sector in an era of climate change. Borrowing substantially from classical American Institutionalism, heterodox theories and histories of the firm, and legal institutionalism, this paper discusses the historically constituted nature of the categories of property, capital, and the firm and how these literatures provide helpful frameworks for analyzing the recent history and possible futures of electricity sectors. A short discussion of the recent history of the German electricity sector, particularly the large utility RWE, will briefly illustrate the approach. Climate change mitigation will require revised notions of ownership and an updated theory of the firm, property, and corporate governance for the Anthropocene.
Topic:
Climate Change, Electricity, Property, Anthropocene, and Energy Transition
Political Geography:
Europe, Germany, and Global Focus

2. Do places of worship affect housing prices? Evidence from Germany

Author:
Sebastian Brandt, Wolfgang Maennig, and Felix J. Richter
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Using hedonic pricing models, this paper analyzes the impact of places of worship on the prices of adjacent condominiums in Hamburg, Germany. This is the first study on this subject to have been conducted outside the United States. It is also the first work to examine the externalities of places of worship of all five world religions. Furthermore, it is the first study that analyzes the effect of bell ringing on the adjacent residential property prices. Controlling for spatial dependence and by using potentiality variables positive externalities of places of worship within a radius of 1,000m were identified. Compared to properties beyond this threshold, price premiums of 4.8% were detected for condominiums at distances of 100m to 200m to the next place of worship. The results also show that the positive externalities near mosques do not differ from those of places of worship of other religions and that the positive effect of churches continues to be felt even after they have been deconsecrated. The influence of church bell ringing on the prices of surrounding residential properties, however, could not be substantiated.
Topic:
Economics, Religion, Property, and Price
Political Geography:
Europe and Germany

3. Urban Renewal after the Berlin Wall

Author:
Gabriel Ahlfeldt, Wolfgang Maennig, and Felix J. Richter
Publication Date:
11-2013
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Urban renewal areas are popular but empirically understudied spatial planning instruments designed to prevent urban decline and induce renewal. We use a quasi-experimental research design to study the effects of 22 renewal areas implemented in Berlin, Germany, to increase housing and living quality in the aftermath of the city’s division during the Cold War period. Our results suggest that the policy has helped reduce (increase) the number of buildings in poor (good) condition by 25% (10%). Property prices increased at an annual rate of 0.4-1.7% according to our preferred estimates. Evidence is weak at best, however, for positive housing externalities. More generally, our findings indicate that the efficiency of program evaluations for place based -policies using quasi-experimental methods increases with the number of targeted areas and areas that provide the counterfactual.
Topic:
Economics, Urban, Property, Revitalization, and Redevelopment
Political Geography:
Europe and Germany

4. Perceived Externalities of Cell Phone Base Stations Stations – The Case of Property Prices in The Case of Property Prices in Hamburg, Germany Hamburg, Germany

Author:
Sebastian Brandt and Wolfgang Maennig
Publication Date:
11-2010
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
We examine the impact of cell phone base stations on prices of condominiums in Hamburg, Germany. This is the first hedonic pricing study on this subject for real estates in Europe and the first worldwide which examines the price impact of base stations within a whole metropolis. We distinguish between individual masts and groups of masts. Based on a data set of over 1,000 base stations set up in Hamburg, we find that only immediate proximity to groups of antenna masts is perceived as harmful by residents of nearby condominiums. For individual masts, however, no effect on residential property prices in the surrounding areas has been observed indicating that cell phone service providers should prevent installation of groups of masts in a single location. We control for spatial dependence and show that the influence of cell phone base stations on adjacent residential property prices can be overestimated, if other negative externalities that are typically correlated with the proximity to base stations are neglected.
Topic:
Science and Technology, Property, and Cell Phone Base Stations
Political Geography:
Europe, Germany, and Hamburg

5. Recombinant Property in East European Capitalism

Author:
David Stark
Publication Date:
01-1994
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
In contrast to the problematic of transition, this paper sees social change not as the passage from one order to another but as rearrangement in the patterns of how a multiplicity of social orders are interwoven. From that perspective we see organizational innovation not as replacement but as recombination. The findings of field research in Hungarian firms. data on ownership of the largest Hungarian enterprises, and interviews with key policy makers in government. banking. and industry indicate the emergence of new property forms that are neither statist nor private, in which the properties of private and public are dissolved. interwoven. and recombined. Recombinant property is a form of organizational hedging, or portfolio management. in which actors are responding to extraordinary uncertainty in the organizational environment. For enterprise actors the question is not simply, "Will I survive the market test?" but also, under what conditions is proof of worth on market principles neither sufficient nor necessary to survive. Recombinant property is an attempt to have resources in more than one organizational form-or similarly-to produce hybrid organizational forms that can be justified or assessed by more than one standard of measure. The clash of competing organizational principles that characterizes post-socialist societies produces new organizational forms; and this organizational diversity can form a basis for greater adaptability. At the same time, however, this multiplicity of ordering principles creates problems of accountability. Accompanying the decentralized reorganization oj assets is a centralization of liabilities. Both processes blur the boundaries between public and private. On the one hand, privatization produces the criss-crossing lines of recombinant property; on the other, debt consolidation transforms private debt into public liabilities. Whereas in the state socialist economy paternalism was based on the state's attempts at the centralized management of assets, in the first years of the post-socialist economy paternalism is based on the state's attempts at the centralized management of liabilities.
Topic:
Capitalism, Property, Social Change, and Post-Communism
Political Geography:
Europe, Eastern Europe, and Hungary