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Cournot Competition, Forward Markets and Efficiency

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Cited by:

  1. repec:eee:eneeco:v:67:y:2017:i:c:p:355-365 is not listed on IDEAS
  2. Paul Joskow & Jean Tirole, 2007. "Reliability and competitive electricity markets," RAND Journal of Economics, RAND Corporation, vol. 38(1), pages 60-84, March.
  3. Rodilla, Pablo & García-González, Javier & Baíllo, Álvaro & Cerisola, Santiago & Batlle, Carlos, 2015. "Hydro resource management, risk aversion and equilibrium in an incomplete electricity market setting," Energy Economics, Elsevier, vol. 51(C), pages 365-382.
  4. James B. Bushnell & Erin T. Mansur & Celeste Saravia, 2008. "Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured US Electricity Markets," American Economic Review, American Economic Association, vol. 98(1), pages 237-266, March.
  5. Ritz, Robert A., 2016. "How does renewables competition affect forward contracting in electricity markets?," Economics Letters, Elsevier, vol. 146(C), pages 135-139.
  6. repec:eee:eneeco:v:81:y:2019:i:c:p:465-478 is not listed on IDEAS
  7. Le Coq, Chloe & Schwenen, Sebastian, 2019. "Financial Contracts as Coordination Device," SITE Working Paper Series 47, Stockholm School of Economics, Stockholm Institute of Transition Economics.
  8. Robert A. Ritz, 2014. "On Welfare Losses Due to Imperfect Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 62(1), pages 167-190, March.
  9. Christian Winzer, 2013. "Robustness of Various Capacity Mechanisms to Regulatory Errors Abstract: In the EU, several governments have introduced or are contemplating a capacity mechanism to ensure adequate investment in gener," Cambridge Working Papers in Economics 1338, Faculty of Economics, University of Cambridge.
  10. Miranda Forero, Sandra Liliana & Poveda Berna, lXimena & Jácome Liévano, Flavio Hernando, 2012. "Elección estratégica de contratos forward y contratos de incentivos gerenciales en un contexto de competencia a la Cournot," Revista Lecturas de Economía, Universidad de Antioquia - CIE, June.
  11. repec:aen:journl:ej38-si1-acemoglu is not listed on IDEAS
  12. Natalia Fabra & Alfredo García, 2015. "Dynamic Price Competition with Switching Costs," Dynamic Games and Applications, Springer, vol. 5(4), pages 540-567, December.
  13. repec:eee:juipol:v:50:y:2018:i:c:p:194-206 is not listed on IDEAS
  14. Dana G. Popescu & Sridhar Seshadri, 2013. "Demand Uncertainty and Excess Supply in Commodity Contracting," Management Science, INFORMS, vol. 59(9), pages 2135-2152, September.
  15. Lopez de Haro, S. & Sanchez Martin, P. & de la Hoz Ardiz, J.E. & Fernandez Caro, J., 2007. "Estimating conjectural variations for electricity market models," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1322-1338, September.
  16. Bosco, Bruno & Parisio, Lucia & Pelagatti, Matteo, 2013. "Price-capping in partially monopolistic electricity markets with an application to Italy," Energy Policy, Elsevier, vol. 54(C), pages 257-266.
  17. repec:oup:oxford:v:33:y:2017:i:4:p:589-612. is not listed on IDEAS
  18. Dressler, Luisa, 2016. "Support schemes for renewable electricity in the European Union: Producer strategies and competition," Energy Economics, Elsevier, vol. 60(C), pages 186-196.
  19. Holmberg, Pär & Tangerås, Thomas & Ahlqvist, Victor, 2018. "Central- versus Self-Dispatch in Electricity Markets," Working Paper Series 1257, Research Institute of Industrial Economics, revised 27 Mar 2019.
  20. Marius Paschen, 2016. "The effect of intermittent renewable supply on the forward premium in German electricity markets," Working Papers V-397-16, University of Oldenburg, Department of Economics, revised Nov 2016.
  21. Newbery, David & Pollitt, Michael G. & Ritz, Robert A. & Strielkowski, Wadim, 2018. "Market design for a high-renewables European electricity system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 91(C), pages 695-707.
  22. Downward, Anthony & Young, David & Zakeri, Golbon, 2016. "Electricity retail contracting under risk-aversion," European Journal of Operational Research, Elsevier, vol. 251(3), pages 846-859.
  23. Crampes, Claude & Renault, Jérôme, 2018. "Supply flexibility in electricity markets," TSE Working Papers 18-964, Toulouse School of Economics (TSE).
  24. Chen, Jen-Yi & Dada, Maqbool & Hu, Qiaohai (Joice), 2017. "Flexible procurement contracts for competing retailers," European Journal of Operational Research, Elsevier, vol. 259(1), pages 130-142.
  25. repec:eee:enepol:v:114:y:2018:i:c:p:566-577 is not listed on IDEAS
  26. Herguera, Iñigo & Ferreira, José Luis, 1999. "Régimen institucional del mercado spot y del mercado de futuros en distintos países," DE - Documentos de Trabajo. Economía. DE 3892, Universidad Carlos III de Madrid. Departamento de Economía.
  27. Valeria Di Cosmo & Elisa Trujillo-Baute, 2018. "From Forward to Spot Prices: Producers, Retailers and Loss Averse Consumers in Electricity Markets," Working Papers 2018.31, Fondazione Eni Enrico Mattei.
  28. Ibrahim Abada & Andreas Ehrenmann, 2016. "The prisoner’s dilemma in Cournot models: when endogenizing the level of competition leads to competitive behaviors," Cambridge Working Papers in Economics 1641, Faculty of Economics, University of Cambridge.
  29. Mulder, Machiel & Petrikaitė, Vaiva & Scholtens, Bert, 2015. "Distributed energy generation techniques and the competitive fringe effect in electricity markets," Resource and Energy Economics, Elsevier, vol. 42(C), pages 125-140.
  30. Jian Yao & Ilan Adler & Shmuel S. Oren, 2008. "Modeling and Computing Two-Settlement Oligopolistic Equilibrium in a Congested Electricity Network," Operations Research, INFORMS, vol. 56(1), pages 34-47, February.
  31. Newbery, David, 2017. "Tales of two islands – Lessons for EU energy policy from electricity market reforms in Britain and Ireland," Energy Policy, Elsevier, vol. 105(C), pages 597-607.
  32. Ciarreta Antuñano, Aitor & Espinosa Alejos, María Paz, 2010. "The Impact of Regulation on Pricing Behavior in the Spanish Electricity Market," DFAEII Working Papers 2010-08, University of the Basque Country - Department of Foundations of Economic Analysis II.
  33. Alfredo Garcia & Zhijiang Shen, 2010. "Equilibrium Capacity Expansion Under Stochastic Demand Growth," Operations Research, INFORMS, vol. 58(1), pages 30-42, February.
  34. Chernenko, Nadia, 2015. "Market power issues in the reformed Russian electricity supply industry," Energy Economics, Elsevier, vol. 50(C), pages 315-323.
  35. repec:bla:manchs:v:86:y:2018:i:4:p:533-557 is not listed on IDEAS
  36. repec:kap:regeco:v:51:y:2017:i:3:d:10.1007_s11149-017-9323-0 is not listed on IDEAS
  37. Felix Höffler & Sebastian Kranz, 2015. "Using Forward Contracts to Reduce Regulatory Capture," Journal of Industrial Economics, Wiley Blackwell, vol. 63(4), pages 598-624, December.
  38. Ritz, Robert A., 2014. "Price discrimination and limits to arbitrage: An analysis of global LNG markets," Energy Economics, Elsevier, vol. 45(C), pages 324-332.
  39. Wölfing, Nikolas, 2019. "Forward trading and collusion in supply functions," ZEW Discussion Papers 19-003, ZEW - Leibniz Centre for European Economic Research.
  40. Yuli Radev, 2014. "Natural gas trading in Europe in terms of market disequilibrium," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-18,19-33.
  41. Lingxiu Dong & Hong Liu, 2007. "Equilibrium Forward Contracts on Nonstorable Commodities in the Presence of Market Power," Operations Research, INFORMS, vol. 55(1), pages 128-145, February.
  42. Philippe Mahenc & Valérie Meunier, 2006. "Early Sales of Bordeaux grands crus," Post-Print hal-02080994, HAL.
  43. Newbery, D., 2008. "Predicting market power in wholesale electricity markets," Cambridge Working Papers in Economics 0837, Faculty of Economics, University of Cambridge.
  44. Paschmann, Martin, 2017. "Economic Analysis of Price Premiums in the Presence of Non-convexities - Evidence from German Electricity Markets," EWI Working Papers 2017-12, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
  45. Kfir Eliaz & Ran Spiegler, 2007. "A Mechanism-Design Approach to Speculative Trade," Econometrica, Econometric Society, vol. 75(3), pages 875-884, May.
  46. M. Sarfati & M.R. Hesamzadeh & P. Holmberg, 2018. "Increase-Decrease Game under Imperfect Competition in Two-stage Zonal Power Markets – Part I: Concept Analysis," Working Papers EPRG 1837, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
  47. Haim Mendelson & Tunay I. Tunca, 2007. "Strategic Spot Trading in Supply Chains," Management Science, INFORMS, vol. 53(5), pages 742-759, May.
  48. Andreas Ehrenmann & Karsten Neuhoff, 2009. "A Comparison of Electricity Market Designs in Networks," Operations Research, INFORMS, vol. 57(2), pages 274-286, April.
  49. Knaut, Andreas & Obermüller, Frank, 2016. "How to Sell Renewable Electricity - Interactions of the Intraday and Day-ahead Market under Uncertainty," EWI Working Papers 2016-4, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
  50. David P. Brown & Andrew Eckert, 2017. "Electricity market mergers with endogenous forward contracting," Journal of Regulatory Economics, Springer, vol. 51(3), pages 269-310, June.
  51. repec:eee:eneeco:v:68:y:2017:i:c:p:124-132 is not listed on IDEAS
  52. repec:eee:rensus:v:76:y:2017:i:c:p:545-554 is not listed on IDEAS
  53. repec:spr:epolin:v:44:y:2017:i:3:d:10.1007_s40812-016-0064-3 is not listed on IDEAS
  54. Matthias Pelster, 2015. "Marketable and non-hedgeable risk in a duopoly framework with hedging," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(4), pages 697-716, October.
  55. Anette Boom, 2012. "Vertikale Entflechtung in der Stromwirtschaft," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 81(1), pages 57-71.
  56. Spiridonova, Olga, 2016. "Transmission capacities and competition in Western European electricity market," Energy Policy, Elsevier, vol. 96(C), pages 260-273.
  57. Makoto Tanaka and Yihsu Chen, 2012. "Emissions Trading in Forward and Spot Markets for Electricity," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2).
  58. repec:eee:eneeco:v:65:y:2017:i:c:p:64-74 is not listed on IDEAS
  59. repec:eee:resene:v:54:y:2018:i:c:p:165-185 is not listed on IDEAS
  60. Paul R. Kleindorfer & D. J. Wu, 2003. "Integrating Long- and Short-Term Contracting via Business-to-Business Exchanges for Capital-Intensive Industries," Management Science, INFORMS, vol. 49(11), pages 1597-1615, November.
  61. David P. Brown & Andrew Eckert, 2018. "Analyzing the Impact of Electricity Market Structure Changes and Mergers: The Importance of Forward Commitments," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 52(1), pages 101-137, February.
  62. repec:elg:eechap:16873_7 is not listed on IDEAS
  63. Di Cosmo, Valeria & Lynch, Muireann Á., 2016. "Competition and the single electricity market: Which lessons for Ireland?," Utilities Policy, Elsevier, vol. 41(C), pages 40-47.
  64. Ciarreta, Aitor & Nasirov, Shahriyar & Silva, Carlos, 2016. "The development of market power in the Spanish power generation sector: Perspectives after market liberalization," Energy Policy, Elsevier, vol. 96(C), pages 700-710.
  65. Simshauser, Paul & Tian, Yuan & Whish-Wilson, Patrick, 2015. "Vertical integration in energy-only electricity markets," Economic Analysis and Policy, Elsevier, vol. 48(C), pages 35-56.
  66. Mansur, Erin T, 2007. "Upstream Competition and Vertical Integration in Electricity Markets," Journal of Law and Economics, University of Chicago Press, vol. 50(1), pages 125-156, February.
  67. Guy Meunier, 2011. "Imperfect Competition and Long-term Contracts in Electricity Markets: Some Lessons from Theoretical Models," Chapters, in: Jean-Michel Glachant & Dominique Finon & Adrien de Hauteclocque (ed.), Competition, Contracts and Electricity Markets, chapter 6, Edward Elgar Publishing.
  68. Fiuza de Bragança, Gabriel Godofredo & Daglish, Toby, 2016. "Can market power in the electricity spot market translate into market power in the hedge market?," Energy Economics, Elsevier, vol. 58(C), pages 11-26.
  69. Friedel Bolle & Yves Breitmoser, 2011. "Transaction Costs and Capacity Costs as Interrelated Determinants of Vertical Integration in Oligopolies," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(2), pages 266-290, June.
  70. Robert A. Ritz, 2018. "Oligopolistic competition and welfare," Chapters, in: Luis C. Corchón & Marco A. Marini (ed.), Handbook of Game Theory and Industrial Organization, Volume I, chapter 7, pages 181-200, Edward Elgar Publishing.
  71. Bunn, Derek W. & Martoccia, Maria & Ochoa, Patricia & Kim, Haein & Ahn, Nam-Sung & Yoon, Yong-Beom, 2010. "Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market," Energy Policy, Elsevier, vol. 38(7), pages 3710-3716, July.
  72. Baldursson , Fridrik M. & von der Fehr, Nils-Henrik, 2007. "Vertical Integration and Long-Term Contracts in Risky Markets," Memorandum 01/2007, Oslo University, Department of Economics.
  73. repec:eee:energy:v:144:y:2018:i:c:p:887-902 is not listed on IDEAS
  74. Scholz, Sebastian, 2010. "Derivatives and Default Risk," Discussion Papers in Economics 11317, University of Munich, Department of Economics.
  75. Spinler, Stefan & Huchzermeier, Arnd, 2006. "The valuation of options on capacity with cost and demand uncertainty," European Journal of Operational Research, Elsevier, vol. 171(3), pages 915-934, June.
  76. Sarfati, Mahir & Hesamzadeh, Mohammad Reza & Holmberg, Pär, 2018. "Increase-Decrease Game under Imperfect Competition in Two-stage Zonal Power Markets –​ Part I: Concept Analysis," Working Paper Series 1253, Research Institute of Industrial Economics.
  77. repec:eee:ecolet:v:166:y:2018:i:c:p:6-9 is not listed on IDEAS
  78. Ruddell, Keith & Downward, Anthony & Philpott, Andy, 2018. "Market power and forward prices," Economics Letters, Elsevier, vol. 166(C), pages 6-9.
  79. Siddiqui, Afzal S. & Tanaka, Makoto & Chen, Yihsu, 2016. "Are targets for renewable portfolio standards too low? The impact of market structure on energy policy," European Journal of Operational Research, Elsevier, vol. 250(1), pages 328-341.
  80. repec:col:000093:016978 is not listed on IDEAS
  81. Rubin, Ofir David, 2010. "Equilibrium pricing in electricity markets with wind power," ISU General Staff Papers 201001010800002361, Iowa State University, Department of Economics.
  82. Meredith Fowlie, 2008. "Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage," NBER Working Papers 14421, National Bureau of Economic Research, Inc.
  83. Vadim Borokhov, 2015. "Antimonopoly regulation method based on perfect price discrimination," Papers 1507.04478, arXiv.org.
  84. Sebastien Mitraille & Henry Thille, 2017. "Strategic advance sales, demand uncertainty and overcommitment," Working Papers 1708, University of Guelph, Department of Economics and Finance.
  85. Van Moer, Geert, 2019. "Electricity market competition when forward contracts are pairwise efficient," MPRA Paper 96660, University Library of Munich, Germany.
  86. Yao, Jian & Oren, Shmuel S. & Adler, Ilan, 2007. "Two-settlement electricity markets with price caps and Cournot generation firms," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1279-1296, September.
  87. Chloé Coq & Henrik Orzen & Sebastian Schwenen, 2017. "Pricing and capacity provision in electricity markets: an experimental study," Journal of Regulatory Economics, Springer, vol. 51(2), pages 123-158, April.
  88. repec:eee:indorg:v:59:y:2018:i:c:p:514-537 is not listed on IDEAS
  89. Roland Meyer, 2012. "Vertical Economies and the Costs of Separating Electricity Supply--A Review of Theoretical and Empirical Literature," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
  90. Ferreira, Jose Luis, 2003. "Strategic interaction between futures and spot markets," Journal of Economic Theory, Elsevier, vol. 108(1), pages 141-151, January.
  91. Adrien de Hauteclocque & Jean-Michel Glachant, 2011. "Long-term Contracts and Competition Policy in European Energy Markets," Chapters, in: Jean-Michel Glachant & Dominique Finon & Adrien de Hauteclocque (ed.), Competition, Contracts and Electricity Markets, chapter 9, Edward Elgar Publishing.
  92. repec:col:000093:016994 is not listed on IDEAS
  93. D. J. Wu & Paul R. Kleindorfer, 2005. "Competitive Options, Supply Contracting, and Electronic Markets," Management Science, INFORMS, vol. 51(3), pages 452-466, March.
  94. Ray REES & Sebastian SCHOLZ, 2010. "Electricity Market Design for Germany," Sosyoekonomi Journal, Sosyoekonomi Society, issue 2010-EN.
  95. Schubert, Jens, 2015. "The impact of forward contracting on tacit collusion: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 119(C), pages 109-123.
  96. Fatih Yilmaz, 2010. "Who is Doing What; to Prices?," European Journal of Economic and Political Studies, Fatih University, vol. 3(1), pages 27-40.
  97. Frederic H. Murphy & Yves Smeers, 2005. "Generation Capacity Expansion in Imperfectly Competitive Restructured Electricity Markets," Operations Research, INFORMS, vol. 53(4), pages 646-661, August.
  98. repec:gam:jeners:v:12:y:2019:i:6:p:1064-:d:215419 is not listed on IDEAS
  99. Manel Antelo & Lluís Bru, 2018. "Option Contracts in a Vertical Industry," Manchester School, University of Manchester, vol. 86(4), pages 533-557, July.
  100. Bustos-Salvagno, Javier, 2015. "Bidding behavior in the Chilean electricity market," Energy Economics, Elsevier, vol. 51(C), pages 288-299.
  101. Bogmans, Christian W.J. & Dijkema, Gerard P.J. & van Vliet, Michelle T.H., 2017. "Adaptation of thermal power plants: The (ir)relevance of climate (change) information," Energy Economics, Elsevier, vol. 62(C), pages 1-18.
  102. repec:eee:eneeco:v:74:y:2018:i:c:p:179-196 is not listed on IDEAS
  103. Tangerås, Thomas & Wolak, Frank A., 2017. "The Competitive Effects of Linking Electricity Markets Across Space and Time," Working Paper Series 1184, Research Institute of Industrial Economics.
  104. Michèle Breton & Mohammed Kharbach, 2009. "Who benefits from price indexation?," Economics Bulletin, AccessEcon, vol. 29(4), pages 2732-2737.
  105. Rubin, Ofir D. & Babcock, Bruce A., 2011. "A novel approach for modeling deregulated electricity markets," Energy Policy, Elsevier, vol. 39(5), pages 2711-2721, May.
  106. repec:eee:juipol:v:54:y:2018:i:c:p:1-10 is not listed on IDEAS
  107. Frederic Murphy & Yves Smeers, 2010. "On the Impact of Forward Markets on Investments in Oligopolistic Markets with Reference to Electricity," Operations Research, INFORMS, vol. 58(3), pages 515-528, June.
  108. Peter Cramton & Axel Ockenfels & Steven Stoft, 2013. "Capacity Market Fundamentals," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
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