Showing 1 - 10 of 19
operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we …
Persistent link: https://www.econbiz.de/10005783790
transmission rights is crucial. In an efficient arbitraged uniform price auction, generators will only obtain contracts that … mitigate their market power. However, if generators inherit transmission contracts or buy them in a ‘pay-as-bid’ auction, then …
Persistent link: https://www.econbiz.de/10005113830
In multi-unit auctions, such as auctions of commodities and securities, and financial exchanges, it is necessary to specify rationing rules to break ties between multiple marginal bids. The standard approach in the literature and in pratice is to ration marginal bids proportionally. This paper...
Persistent link: https://www.econbiz.de/10010949356
for Proposals (RFP) and auctions (Renewable Auction Mechanism). The study proposes an auction design with a focus on the … UK context and examines the role of energy regulators in auction mechanisms. We think that the experience described in …
Persistent link: https://www.econbiz.de/10011262880
annual capacity auctions. The paper examines the case for, criticisms of, and the outcome of the first auction, criticizing …
Persistent link: https://www.econbiz.de/10011265354
-good/multi-unit auctions provides guidance on the design of the auction format, setting the reservation price, the rationing rule, and …
Persistent link: https://www.econbiz.de/10008503180
activities. This paper presents an auction design which can reduce the financing cost of infrastructure investments by allowing … the length of the regulatory funding period to be determined via an auction. The auction allows bidders to submit bids … favourable terms in the financial markets. Our auction design can secure efficiency and lower financing costs. Our auction is …
Persistent link: https://www.econbiz.de/10010737347
itself can be designed better. We present a lot structure and an auction design where bidders might propose and build … different network configurations and where bidding for packages is a possibility. We demonstrate why the auction design in this …
Persistent link: https://www.econbiz.de/10010790559
Transport constraints limit competition and arbitrageurs' possibilities of exploiting price differences between commodities in neighbouring markets. We analyze a transportation network where oligopoly producers compete with supply functions under uncertain demand, as in wholesale electricity...
Persistent link: https://www.econbiz.de/10010817473
We demonstrate how suppliers can take strategic speculative positions in derivatives markets to soften competition in the spot market. In our game, suppliers first choose a portfolio of call options and then compete with supply functions. In equilibrium firms sell forward contracts and buy call...
Persistent link: https://www.econbiz.de/10010699805