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Vertical Structure and the Risk of Rent Extraction in the Electricity Industry
Boom, Anette; Buehler, Stefan - 2018
welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices … before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …
Persistent link: https://www.econbiz.de/10012142389
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Vertical structure and the risk of rent extraction in the electricity industry
Boom, Anette; Bühler, Stefan - 2018 - This draft: August 23, 2018
welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices … before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …
Persistent link: https://www.econbiz.de/10012023903
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Signaling in auctions among competitors
Scarpatetti, Benedikt von; Wasser, Cédric - 2010
We consider a model of oligopolistic firms that have private information about their cost structure. Prior to competing in the market a competitive advantage, i.e., a cost reducing technology, is allocated to a subset of the firms by means of a multi-object auction. After the auction either all...
Persistent link: https://www.econbiz.de/10003935653
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Information sharing in contests
Kovenock, Daniel J.; Morath, Florian; Münster, Johannes - 2010
We study the incentives to share private information ahead of contests, such as markets with promotional competition, procurement contests, or R&D. We consider the cases where firms have (i) independent values and (ii) common values of winning the contest. In both cases, when decisions to share...
Persistent link: https://www.econbiz.de/10008822740
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Self-Allocation in Contests
Bernergard, Axel - 2017
We consider contestants who must choose exactly one contest, out of several, to participate in. We show that when the contest technology is of a certain type, or when the number of contestants is large, a self-allocation equilibrium, i.e., one where no contestant would wish to change his choice...
Persistent link: https://www.econbiz.de/10012947451
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Signaling in Auctions Among Competitors
von Scarpatetti, Benedikt; Wasser, Cédric - 2010
We consider a model of oligopolistic firms that have private information about their cost structure. Prior to competing in the market a competitive advantage, i.e., a cost reducing technology, is allocated to a subset of the firms by means of a multi-object auction. After the auction either all...
Persistent link: https://www.econbiz.de/10014196760
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Does Cost Uncertainty in the Bertrand Model Soften Competition?
Lagerlöf, Johan N. M. - 2014
-good Bertrand model intensifies competition: it lowers price and raises total surplus (but also makes profits go up). For some … Hansen's results for the relationship between uncertainty and competition in the Bertrand model. Second, it shows that his …
Persistent link: https://www.econbiz.de/10013054742
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Competition in treasury auctions
Elsinger, Helmut; Schmidt-Dengler, Philipp; Zulehner, … - 2016
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … increase in the number of banks participating in treasury auctions. We use structural estimates of bidders' private values to … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …
Persistent link: https://www.econbiz.de/10011436067
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Competition in treasury auctions
Elsinger, Helmut; Schmidt-Dengler, Philipp; Zulehner, … - 2016
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … increase in the number of banks participating in treasury auctions. We use structural estimates of bidders' private values to … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …
Persistent link: https://www.econbiz.de/10011495132
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Competition in Electricity Forward-Contract Auctions
Lima, José Luis - 2014
number of bidders are not enough warranty for fierce competition. Electricity forward-contract auctions may be uncompetitive …Brazil, Chile and other developing countries have recently experienced with forward or long-run contract auctions for … electricity demand, to meet supply adequacy problems. In this paper, we analyze what it requires to have a competitive auction …
Persistent link: https://www.econbiz.de/10013069976