The Electricity Market Game
AbstractThis paper examines the effects of imperfect competition in unregulated electricity markets from a general equilibrium perspective, and demonstrates that horizontal market power can explain both the large peak-period price spikes observed recently in California and elsewhere, and the marked reduction in additions to capacity that have also occurred during the transition to competitive markets.
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Bibliographic InfoPaper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2003-E17.
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Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
Web page: http://www.tepper.cmu.edu/
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- NEP-ALL-2004-12-12 (All new papers)
- NEP-COM-2004-12-20 (Industrial Competition)
- NEP-ENE-2005-01-14 (Energy Economics)
- NEP-IND-2005-01-03 (Industrial Organization)
- NEP-MIC-2004-12-23 (Microeconomics)
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- Aitor Ciarreta & María Paz Espinosa, 2003.
"Market Power In The Spanish Wholesale Electricity Market,"
Working Papers. Serie AD
2003-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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"Does Entry Improve Welfare ? A General Equilibrium Approach of Competition Policy,"
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- Vicki Knoblauch, 2004. "Can a Newly Proposed Mechanism for Allocating Contracts in U.S. Electricity Wholesale Markets Lead to Lower Prices? A Game Theoretic Analysis," Working papers 2004-41, University of Connecticut, Department of Economics, revised Mar 2006.
- Hoel, Michael, 2004. "Electricity prices in a mixed thermal and hydropower system," Memorandum 28/2004, Oslo University, Department of Economics.
- Aitor Ciarreta & Maria Paz Espinosa, 2010.
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- Espinosa Alejos, María Paz & Ciarreta Antuñano, Aitor, 2005. "A Supply Function Competition Model for the Spanish Wholesale Electricity Market," DFAEII Working Papers 2005-18, University of the Basque Country - Department of Foundations of Economic Analysis II.
- Balasko, Yves, 2008. "On the satisfaction of peak demand in the certainty case," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 569-574, July.
- Nasiri, Fuzhan & Zaccour, Georges, 2009. "An exploratory game-theoretic analysis of biomass electricity generation supply chain," Energy Policy, Elsevier, vol. 37(11), pages 4514-4522, November.
- Peck, James & Spear, Stephen E., 2003. "Introduction to a Festschrift for Karl Shell," Journal of Economic Theory, Elsevier, vol. 109(2), pages 153-155, April.
- Nicholas Shunda, 2005. "Strategic Behavior in Day-Ahead and Real-Time Markets for Electricity: Offer Cost or Payment Cost Minimization?," Working papers 2005-48, University of Connecticut, Department of Economics.
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