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Competitive Equilibrium in a Radial Network

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  • Cho, In-Koo
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    Abstract

    In a competitive market over a network with finite capacity, we can focus without loss of generality on simple allocations, where the net transaction over a link is equal to the gross transaction over the same link. If a simple allocation can be sustained by an equilibrium, then the allocation is efficient. If an equilibrium allocation is equivalent to a simple allocation and if the simple allocation is no longer sustained by an equilibrium, then the original equilibrium allocation is not efficient. For any efficient allocation, an equivalent simple allocation exists that can be sustained by a competitive equilibrium. Copyright 2003 by the RAND Corporation.

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    Bibliographic Info

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

    Volume (Year): 34 (2003)
    Issue (Month): 3 (Autumn)
    Pages: 438-60

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    Handle: RePEc:rje:randje:v:34:y:2003:i:3:p:438-60

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    Cited by:
    1. Hu, X. & Ralph, D. & Ralph, E.K. & Bardsley, P. & Ferris, M.C., 2004. "Electricity Generation with Looped Transmission Networks: Bidding to an ISO," Cambridge Working Papers in Economics 0470, Faculty of Economics, University of Cambridge.
    2. Holmberg, Pär & Lazarczyk, Ewa, 2012. "Congestion Management in Electricity Networks: Nodal, Zonal and Discriminatory Pricing," Working Paper Series 915, Research Institute of Industrial Economics.
    3. Juan Escobar & Alejandro Jofré, 2010. "Monopolistic competition in electricity networks with resistance losses," Economic Theory, Springer, vol. 44(1), pages 101-121, July.
    4. Kim, Hyunsook & Kim, Sung-Soo, 2010. "The optimal fuel mix and redistribution of social surplus in the Korean power market," Energy Policy, Elsevier, vol. 38(12), pages 7929-7938, December.

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