Jonathan Elliott

We develop a model of competition in prices and infrastructure among mobile network operators. Although consolidation increases market power, it can lead to more efficient data transmission due to economies of scale, which we derive from physical principles. After estimating our model with French consumer and infrastructure data, equilibrium simulations reveal that while prices decrease with the number of firms, so do download speeds. Our framework also allows us to quantify the impact of spectrum allocation. The marginal social value of spectrum exceeds firms’ willingness to pay in our model as well as observed prices in spectrum auctions.

This paper explores how to reduce emissions from electricity generation while preventing blackouts. Zero-emissions wind and solar are intermittent, which can lead to blackouts if the entry of renewables causes more reliable power plants to retire. I build a structural dynamic oligopoly model of investment in generators of different energy sources. Using data from Western Australia I show that a combination of carbon taxes and capacity subsidies substantially reduces emissions while keeping reliable generators from retiring, thereby maintaining a low risk of blackouts. I also explore the impact of renewable subsidies and delaying an environmental policy's implementation.

The green energy transition will be powered by the mining and processing of lithium, nickel, and cobalt, which are critical for the production of advanced batteries. These minerals are concentrated geographically but traded globally. We study the geopolitical implications of active policy intervention in key mining countries, and we discuss consequences for green technology adoption worldwide. We show that the joint use of critical minerals in advanced batteries generates complementarity, which shapes both producer welfare and battery adoption. We quantify supply chain vulnerability, policy spillovers across mineral markets, and the potential for mineral cartels.