Fabra, Natalia; Fehr, Nils-Henrik von der; Harbord, David - EconWPA - 2002
Motivated by the new auction format introduced in the England and Wales electricity market, as well as the recent … debate in California, we characterize bidding behavior and market outcomes in uniform and discriminatory electricity auctions … productive efficiency is ambiguous. The comparative effects of other market design features, such as the number of steps in …