This paper analyzes theoretically and empirically how upstream markets are affected by deregulation downstream …. Deregulation tends to increase the level of uncertainty in the upstream market. Our theoretical analysis predicts that deregulated … of the electricity market in the US as our case study, we find support for our theoretical predictions. Furthermore, we …

pricing of electricity in real time, particularly in hydro systems in Latin America. Audited costs are also substituted for … spot prices to be equal to marginal costs in a concentrated market can actually yield lower social welfare than under a bid … costs of generators in cost-based markets and how this can lead to distorted dispatch schedules and prices, ultimately …

This paper investigates whether European electricity market reforms have induced any changes in firm efficiency either … through productive, allocative or dynamic efficiency improvements. In particular, this ex-post analysis looks closely at … sluggish productivity improvements of European electricity firms due to reforms implemented in the last decade. In particular …

The static production efficiency model and the dynamic duality model of intertemporal decision making using a … inputs. Finally, the results suggest evidence of increasing returns to scale in the production of the electricity industry … econometric models of dynamic efficiency with intertemporal cost minimizing firm behavior. The dynamic efficiency model is a …

China's electricity sector has experienced substantial efficiency improvement during the last one and a half decades …. The recent literature has mostly attributed the efficiency improvement to the 2002 unbundling reform with little attention … contributed at least half of the observed efficiency improvement during this period. The results have significant implications for …