Advanced Search
MyIDEAS: Login to save this article or follow this journal

Analysis of the Short-Term Efficiency of Mechanisms of the Wholesale Electricity Market

Contents:

Author Info

  • Vasin, A.

    (Lomonosov Moscow State University, Moscow, Russia)

  • Daylova, E.

    (Lomonosov Moscow State University, Moscow, Russia)

Registered author(s):

    Abstract

    The authors consider theoretical models for mechanisms of the wholesale electricity market. Among them: Cournot auction, first-price auction of supply functions, Vickrey auction, pay-as-bid auction, two-stage auction. Theoretical estimations of their short-term efficiency from social welfare viewpoint as well as prices of goods for consumers are compared with results of statistical researches. Some problems and prospects of the Russian electricity market pointed out.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.econorus.org/repec/journl/2013-18-35-60r.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by New Economic Association in its journal Journal of the New Economic Association.

    Volume (Year): 18 (2013)
    Issue (Month): 2 ()
    Pages: 35-60

    as in new window
    Handle: RePEc:nea:journl:y:2013:i:18:p:35-60

    Contact details of provider:
    Postal: Nakhimovsky prospekt, 32, Office 1115, 117218 Moscow Russia
    Phone: +7 495 7189855
    Fax: +7 495 7189855
    Email:
    Web page: http://www.econorus.org/english.phtml
    More information through EDIRC

    Related research

    Keywords: electricity markets; Cournot auction; supply function auction; Vickrey auction; pay-as-bid auction; forward market;

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Green, Richard J & Newbery, David M, 1992. "Competition in the British Electricity Spot Market," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 929-53, October.
    2. Holmberg, P. & Newbery, D & Ralph, D., 2008. "Supply Function Equilibria: Step Functions and Continuous Representations," Cambridge Working Papers in Economics 0863, Faculty of Economics, University of Cambridge.
    3. David Newbery, 2009. "Predicting Market Power in Wholesale Electricity Markets," RSCAS Working Papers 2009/03, European University Institute.
    4. Moreno, Diego & Ubeda, Luis, 2006. "Capacity precommitment and price competition yield the Cournot outcome," Games and Economic Behavior, Elsevier, vol. 56(2), pages 323-332, August.
    5. David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
    6. Green, Richard J, 1996. "Increasing Competition in the British Electricity Spot Market," Journal of Industrial Economics, Wiley Blackwell, vol. 44(2), pages 205-16, June.
    7. Newbery, D. M., 1997. "Competition, Contracts and Entry in the Electricity Spot Market," Cambridge Working Papers in Economics 9707, Faculty of Economics, University of Cambridge.
    8. Klemperer, Paul D & Meyer, Margaret A, 1989. "Supply Function Equilibria in Oligopoly under Uncertainty," Econometrica, Econometric Society, vol. 57(6), pages 1243-77, November.
    9. Mahenc, P. & Salanie, F., 2004. "Softening competition through forward trading," Journal of Economic Theory, Elsevier, vol. 116(2), pages 282-293, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:nea:journl:y:2013:i:18:p:35-60. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexey Tcharykov).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.