We develop a theoretical framework to characterize strategic behavior in sequential markets under imperfect competition … and limited arbitrage. Our theory predicts that these two elements can generate a systematic price premium. We test the …

This paper studies how market competition influences the algorithmic design choices of firms in the context of … to maximize estimated profit. We show that competition may induce firms to strategically choose simpler algorithms which …

We analyze a number of unstudied aspects of retail electricity competition. We first explore the implications of load … homogeneous up to a scaling factor. In general, the combination of retail competition and load profiling does not yield the second … consumption, retail competition yields the Ramsey prices even when consumers can only partially respond to variations in real time …