Several regulatory authorities worldwide have recently imposed forward contract obligations on electricity producers as … bidding in electricity markets, or in any other auction-based market. For this purpose, we introduce forward contracts in a … uniform-price multi-unit auction model with complete information. We find that forward contracts are pro-competitive when …

discuss radiospectrum and football TV-rights auctions, electricity markets, and takeover battles), and the Anglo-Dutch auction …

, while despite possible information frictions competition typically delivers similar borrower welfare to non-profit lending …

Many bidders enter the Government of Canada securities auctions with short or long pre-auction inventory. We find that …

electricity pool and show that price-cost margins substantially increased with the 1996 merger that took the industry from a six …

equilibrium is characterized; the equilibrium is privately revealing and the incentives to acquire information are preserved …. Price-cost margins and bid shading are affected by the parameters of the information structure: supply functions are steeper … common value case they tend to the collusive level. Private information coupled with strategic behavior induces additional …

inefficiency by standing ready to lend to needy banks, provided it has greater information about banks (e.g., through supervision …