Power sector reforms across Latin America in the 1990s based on privatization, liberalization, and market forces were largely unavoidable. This book argues that while there is no turning back from this process, many reforms may not prove sustainable without further efforts to build a stronger...

Power sector reforms across Latin America in the 1990s based on privatization, liberalization, and market forces were largely unavoidable. This book argues that while there is no turning back from this process, many reforms may not prove sustainable without further efforts to build a stronger...

We analyse retailer and household behaviour on the Norwegian electricity market, based on detailed information on prices and other market characteristics. We find that there exists a competitive market segment where a number of retailers compete fiercely for customers, with small margins on all...

We suggest a simple framework for characterizing alternative ways that “persuasive advertising” may affect consumer preferences. We illustrate the implications of our theory—and contrast it with results from models of informative advertising—by analyzing the relationship between the...

Motivated by the new auction format 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. Uniform auctions result in higher average prices than...