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Estimating Effective Concentration in Deregulated Wholesale Electricity Markets

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  • Richard Schmalensee
  • Bennett W. Golub

Abstract

To inform debates about deregulation of wholesale markets for electricity, we estimate effective concentration in those markets in the contiguous United States in 1978. Our estimates are based on simulated oligopolistic equilibria, the characteristics of which are derived from a new and comprehensive data base. We find, among other things, that effective concentration is highly dependent on the adequacy of transmission capacity in each area, about which usable data are unavailable, and on the behavior of the existing public enterprises in this industry. Policy implications of our findings are discussed.

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Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 15 (1984)
Issue (Month): 1 (Spring)
Pages: 12-26

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Handle: RePEc:rje:randje:v:15:y:1984:i:spring:p:12-26

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Cited by:
  1. Cardell, Judith B. & Hitt, Carrie Cullen & Hogan, William W., 1997. "Market power and strategic interaction in electricity networks," Resource and Energy Economics, Elsevier, vol. 19(1-2), pages 109-137, March.
  2. Matthias Janssen & Magnus Wobben, . "Electricity Pricing and Market Power - Evidence from Germany," Working Papers 200121, Institute of Spatial and Housing Economics, Munster Universitary.
  3. Severin Borenstein & James Bushnell, 1998. "An Empirical Analysis of the Potential for Market Power in California's Electricity Industry," NBER Working Papers 6463, National Bureau of Economic Research, Inc.
  4. James B. Bushnell & Erin T. Mansur & Celeste Saravia, 2008. "Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured US Electricity Markets," American Economic Review, American Economic Association, vol. 98(1), pages 237-66, March.
  5. Kosnik, Lea, 2008. "Consolidation and ownership trends of nonfederal hydropower generating assets, 1980-2003," Energy Economics, Elsevier, vol. 30(3), pages 715-731, May.
  6. Kühn, Kai-Uwe, 2006. "How Market Fragmentation Can Facilitate Collusion," CEPR Discussion Papers 5948, C.E.P.R. Discussion Papers.
  7. Hesamzadeh, Mohammad R. & Biggar, Darryl R. & Hosseinzadeh, Nasser, 2011. "The TC-PSI indicator for forecasting the potential for market power in wholesale electricity markets," Energy Policy, Elsevier, vol. 39(10), pages 5988-5998, October.
  8. Bolle, Friedel, 2008. "Allocation decisions in network industries," Energy Economics, Elsevier, vol. 30(1), pages 97-112, January.

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