The reduced attractiveness of investments in reliable power plants under conditions of liberalized markets and the transition towards renewable energies has brought a discussion on capacity policies to Europe. We use a partial equilibrium model to compare important effects of three basic...

Increasing shares of intermittent renewable energies challenge the dominant way to trade electricity ex-ante in forward, day-ahead, and intraday markets: Coal power plants and consumers cannot react to the stochastic element of renewables, whereas gas turbines can. We use a theoretical model to...

Customer data increasingly enables online marketplace to identify buyers' preferences and provide individualized product information. I characterize the impact of such ex-ante information on buyer surplus and seller surplus. In my model, a marketplace provides an ex-ante signal about buyers'...