An examination of Frank Wolak's model of market power and its application to the New Zealand electricity market
AbstractWe appraise the theoretical basis and the consequent empirical work of Frank Wolak in his study of the New Zealand electricity market in a report to the New Zealand Commerce Commission released in March 2009. The report found no multilateral actions, but concluded there was evidence of unilateral market power. We find that the theoretical and empirical methodologies employed to reach this conclusion do not imply the existence of unilateral market power in oligoply electricity markets.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal New Zealand Economic Papers.
Volume (Year): 46 (2012)
Issue (Month): 1 (December)
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Web page: http://www.tandfonline.com/RNZP20
Other versions of this item:
- Lewis Evans & Graeme Guthrie, 2011. "An Examination of Frank Wolak’s Model of Market Power and its Application to the New Zealand Electricity Market," Working Papers in Economics 11/10, University of Canterbury, Department of Economics and Finance.
- L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
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- Lewis Evans & Graeme Guthrie, 2009. "How Options Provided by Storage Affect Electricity Prices," Southern Economic Journal, Southern Economic Association, vol. 75(3), pages 681â702, January.
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