Analysis of the Short-Term Efficiency of Mechanisms of the Wholesale Electricity Market
The authors consider theoretical models for mechanisms of the wholesale electricity market. Among them: Cournot auction, first-price auction of supply functions, Vickrey auction, pay-as-bid auction, two-stage auction. Theoretical estimations of their short-term efficiency from social welfare viewpoint as well as prices of goods for consumers are compared with results of statistical researches. Some problems and prospects of the Russian electricity market pointed out.
Volume (Year): 18 (2013)
Issue (Month): 2 ()
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