electric power system. The paper starts by deriving the (second-best) optimal prices and investment program when there are … contingent on real time prices. It then examines the assumptions required for a competitive wholesale and retail market to … assumptions. First, it analyzes the interrelationships between regulator-imposed price caps and capacity obligations. It goes on …

efficiency, taking into account the regulatory changes that have affected the European airline industry. We construct and … estimate a model that includes demand, capacity, and cost equations. The latter accounts for inefficiency and cost …