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Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond

Author

Listed:
  • Kahn, Alfred E.
  • Cramton, Peter C.
  • Porter, Robert H.
  • Tabors, Richard D.

Abstract

Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Kahn, Alfred E. & Cramton, Peter C. & Porter, Robert H. & Tabors, Richard D., 2001. "Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond," The Electricity Journal, Elsevier, vol. 14(6), pages 70-79, July.
    • Handle: RePEc:eee:jelect:v:14:y:2001:i:6:p:70-79
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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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