Inflow Uncertainty in Hydropower Markets
We analyse the effects of uncertainty on market performance in hydropower systems under alternative assumptions about market structure. Uncertainty creates distinct possibilities for exercising market power that cannot be captured in deterministic models. The qualitative and quantitative features of these possibilities depend on the characteristics of residual demand facing individual firms, which again depends on consumer preferences and generation and transmission technologies. Copyright � The editors of the "Scandinavian Journal of Economics" 2009 .
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Volume (Year): 111 (2009)
Issue (Month): 1 (03)
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