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Market Power in the Nordic Wholesale Electricity Market: A Survey of the Empirical Evidence
Fridolfsson, Sven-Olof; Tangerås, Thomas - Institutet för Näringslivsforskning (IFN) - 2008
We review the recent empirical research concerning market power on the Nordic wholesale market for electricity, Nord Pool. There is no evidence of blatant and systematic exploitation of system level market power on Nord Pool. However, generation companies seem from time to time able to take...
Persistent link: https://www.econbiz.de/10005645390
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Real-time versus Day-ahead Market Power in a Hydro-based Electricity Market
Mauritzen, Johannes; Tangerås, Thomas - Institutet för Näringslivsforskning (IFN) - 2014
We analyse in a theoretical framework the link between real-time and day-ahead market performance in a hydro-based and imperfectly competitive wholesale electricity market. Theoretical predictions of the model are tested on data from the Nordic power exchange, Nord Pool Spot (NPS).We reject the...
Persistent link: https://www.econbiz.de/10010818468
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Entrepreneurial Innovations, Competition and Competition Policy
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2006
We show that, in the case when innovations are for sale, increased product market competition, captured by reduced … the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm … in the industry. Moreover, it is shown that increased intensity of competition can increase the relative profitability of …
Persistent link: https://www.econbiz.de/10005419538
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The Auctioning of a Failing Firm.
Persson, L. - Institutet för Näringslivsforskning (IFN) - 1999
cost inefficiencies, due to a "least danger to competition" (LDC) condition, which favors small, and thus inefficient …
Persistent link: https://www.econbiz.de/10005639318
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Bilateral Oligopoly.
Bjornerstedt, J.; Stennek, J. - Institutet för Näringslivsforskning (IFN) - 2001
In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubenstein-Stahl bargainings over contracts...
Persistent link: https://www.econbiz.de/10005670108
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Efficiency Gains from Mergers.
Roller, L.-H.; Stennek, J.; Verboven, F. - Institutet för Näringslivsforskning (IFN) - 2000
The purpose of this report is to contribute to the analysis of two questions. Should a merger control system take into account efficiency gains from horizontal mergers, and balance these gains against the anti-competitive effects of mergers? If so, how should a system be designed to account for...
Persistent link: https://www.econbiz.de/10005670112
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Congestion Management in Electricity Networks: Nodal, Zonal and Discriminatory Pricing
Holmberg, Pär; Lazarczyk, Ewa - Institutet för Näringslivsforskning (IFN) - 2012
Wholesale electricity markets use different market designs to handle congestion in the transmission network. We compare nodal, zonal and discriminatory pricing in general networks with transmission constraints and loop flows. We conclude that in large games with many producers who are allowed to...
Persistent link: https://www.econbiz.de/10011271350
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Investment Lilberalization - Why a Restrictive Cross-Border Merger Policy can be Counterproductive
Norbäck, Pehr-Johan; Persson, Lars - Institutet för Näringslivsforskning (IFN) - 2006
Investment liberalizing countries are often concerned that cross-border mergers & acquisitions, in contrast to greenfield investments, might have an adverse effect on domestic firms and consumers. However, given that domestic assets are sufficiently scarce, we identify a preemption effect and an...
Persistent link: https://www.econbiz.de/10005082488
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Supply Function Equilibria: Step Functions and Continuous Representations
Holmberg, Pär; Newbery, David; Ralph, Daniel - Institutet för Näringslivsforskning (IFN) - 2009
In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction, and the market is cleared at the price of the most expensive offer needed to meet realised demand. Such markets can most elegantly be modelled as the pure-strategy, Nash...
Persistent link: https://www.econbiz.de/10005025457
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Supply Function Equilibria of Pay-as-Bid Auctions
Holmberg, Pär - Institutet för Näringslivsforskning (IFN) - 2009
This paper characterizes the Nash equilibrium in a pay-as-bid (discriminatory), divisible-good, procurement auction. Demand by the auctioneer is uncertain as in the supply function equilibrium model. A closed form expression is derived. Existence of an equilibrium is ensured if the hazard rate...
Persistent link: https://www.econbiz.de/10005025460