In the proposed model, the independent system operator (ISO) provides the opportunity for maintenance outage rescheduling of generating units before each short-term (ST) time interval. Long-term (LT) scheduling for 1 or 2years in advance is essential for the ISO and the generation companies...

This paper examines the rationale for multilateral agreements to limit investment subsidies. The welfare ranking of symmetric multilateral subsidy games is shown to depend on whether or not investment levels are "friendly", raising rival profits in total, and/or strategic complements, raising...

The assumption that agents engage in maximizing behavior, while ubiquitous in economic theory, differs from the assumption that agents are willing to rely on the maximizing behavior of others. This paper offers an empirical examination of this distinction using experimental methods. Utilizing a...