A deregulated market environment in power industries offers utilities or load serving entities the chance to make profit by pursuing a suitable operational strategy. However, the volatility of the real-time market clearing price raises a price risk issue because the load serving entity sells...

The introduction of real time pricing in many wholesale market as well as the liberalisation process involving the retail market poses the attention over the measurement of demand response to time differentiated price signals. This paper shows an example of how to estimate elasticities of...

Motivated by several examples from industry, such as the introduction of a biotechnology-based process innovation in nylon manufacturing, we consider a technology provider that develops and introduces innovations to a market of industrial customers--original equipment manufacturers (OEMs). The...

The introduction of real time pricing in many wholesale market as well as the liberalisation process involving the retail market poses the attention over the measurement of demand response to time differentiated price signals. This paper shows an example of how to estimate elasticities of...

In this paper, we consider nonlinear transformations of random walks driven by thick-tailed innovations with undefined means or variances. In particular, we show how nonlinearity, nonstationarity, and thick tails interact to generate persistency in memory, and we clearly demonstrate that this...

The increase in PV (photovoltaic) capacities in Germany had since 2011 on some days already significant impacts on spot market prices at the German electricity exchange. The core objective of this paper is to investigate the possible effects of a further uptake of PV on the prices in electricity...

This paper addresses the impact of the CO<SUB align="right"><SMALL>2</SMALL></SUB> opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the...</small></sub>

Marginal rates and elasticities of substitution are derived from the optimal slack values obtained from modified versions of additive DEA models. Projection formulas are used to ensure that all points are on the efficient frontier as required for conformance with assumptions in micro-economics....

The method often proposed to meet environmental goals such as water quality improvement is input restriction, such as reduced fertilizer or pesticide use. Computable general equilibrium (CGE) models are potentially valuable tools to analyze the economic impact of such programs. However, to be...

This article proposes the way to choose the optimal bundle among inputs by combing the translog cost function and Constant-Elasticity-of-Substitution (CES) function. The translog cost function is applied to select the most appropriate nested structure by estimating elasticities of substitution...