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Bringing in Liquidity and Transparency when the Power Sector is Consolidated: The Duty to Trade on the Power Exchange

Listed author(s):
  • Mariusz Swora
  • Jacek KamiÅ„ski
Registered author(s):

    The present model analyses how the state would provide services when the change of power depends upon the performance of the state. Agents can evaluate state performance based either only on the receipt of government services, or both on the benefit from government services and taxes imposed. With a credible threat of power change, if the valuation of the government services is low, along with a low fiscal capacity, then it is less probable that this service would be provided. Furthermore, such an allocation is compared with a situation, when there exists a threat of active opposition. Interestingly, that threat does not change the optimum provisioning of government services (as compared to the previous situation) in the equilibrium.

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    Article provided by Università di Perugia in its journal Review of Economics and Institutions.

    Volume (Year): 8 (2017)
    Issue (Month): 1 ()
    Pages:

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    Handle: RePEc:pia:review:v:8:y:2017:i:1:n:3
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    1. Christian Schultz, 2005. "Virtual Capacity and Competition," CESifo Working Paper Series 1487, CESifo Group Munich.
    2. Ausubel, Lawrence M. & Cramton, Peter, 2010. "Virtual power plant auctions," Utilities Policy, Elsevier, vol. 18(4), pages 201-208, December.
    3. A. Spanjer, 2009. "Long-Term Contracts and Competition on European Gas Markets - Has the Commission Struck the Right Balance?," Competition and Regulation in Network Industries, Intersentia, vol. 10(2), pages 189-205, June.
    4. Nakajima, Tadahiro, 2013. "Inefficient and opaque price formation in the Japan Electric Power Exchange," Energy Policy, Elsevier, vol. 55(C), pages 329-334.
    5. Chaton, Corinne & Gasmi, Farid & Guillerminet, Marie-Laure & Oviedo, Juan Daniel, 2010. "Gas Release and Transport Capacity Investment as Instruments to Foster Competition in Gas Markets," TSE Working Papers 10-203, Toulouse School of Economics (TSE).
    6. Pollitt, Michael G., 2012. "The role of policy in energy transitions: Lessons from the energy liberalisation era," Energy Policy, Elsevier, vol. 50(C), pages 128-137.
    7. Meeus, L. & Vandezande, L. & Cole, S. & Belmans, R., 2009. "Market coupling and the importance of price coordination between power exchanges," Energy, Elsevier, vol. 34(3), pages 228-234.
    8. G. Bellantuono, 2009. "Contract Law, Regulation and Competition in Energy Markets," Competition and Regulation in Network Industries, Intersentia, vol. 10(2), pages 159-189, June.
    9. Bunn, Derek & Koc, Veli & Sapio, Alessandro, 2015. "Resource externalities and the persistence of heterogeneous pricing behavior in an energy commodity market," Energy Economics, Elsevier, vol. 48(C), pages 265-275.
    10. Bobinaite, Viktorija & Juozapaviciene, Aldona & Staniewski, Marcin & Szczepankowski, Piotr, 2013. "Comparative analysis of features of Polish and Lithuanian Day-ahead electricity market prices," Energy Policy, Elsevier, vol. 63(C), pages 181-196.
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