manipulation by large electricity firms during Phase I of the EU ETS. I find that the pattern and extent of firms’ allowance …

time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate …

and private values in the absence of exogenous noise. It is shown how private information yields more market power than … the levels seen with full information. Results obtained here are broadly consistent with evidence from asset auctions, may …

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 …

EU Merger Control Regulation No 4064/89 tended to rely on a dominance test, based on the market share of undertakings … questionable. New EC Merger Regulation No 139/2004 introduces a substantive test to ensure that all post-merger scenarios posing a …