Førsund, Finn R.; Hoel, Michael - Økonomisk institutt, Universitetet i Oslo - 2004
An important conclusion from the literature on hydropower is that if there are no other constraints than the available … water reservoirs for a year, and operating costs are ignored, the competitive (and socially optimal) outcome is … hydropower being non-concave. This non-concavity can be caused by short-run capacity limits either on exports and imports of …