We analyse how the market design influences the bidding behaviour in multi-unit auctions, such as wholesale electricity …

We analyze how market design influences the bidding behavior in multi-unit procurement auctions where suppliers have … uncertain costs and are uncertain about the availability of production units, as in wholesale electricity markets. We find that …

We analyse how the market design influences the bidding behavior in multi-unit auctions, such as wholesale electricity …

We model uniform and discriminatory auctions in wholesale electricity markets. High variability of electricity prices …' strategic bidding, and that the connection between demand and price uncertainties is not direct, but manifested through bidders …-averse or have asymmetric capacities, expected procurement costs are also lower in discriminatory auctions …

by increased costs. Studying the market structure and individual bidding strategies, we find evidence for collusive … behavior in an environment with repeated auctions, pivotal suppliers and inelastic demand. The price increase can be traced … back to an abuse of the auction’s pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we …

Capacity constraints on transmissions of electricity are raising an increasing policy concern as electricity markets … this paper is to highlight the impact of transmission capacity constraints and transmission costs on electricity market … auctions. In the presence of transmission capacity constraints, the equilibrium is asymmetric even when the suppliers are …

Electricity markets are becoming more integrated around the world. However, the knowledge of the effects of different … limited. In this paper, I analyze the performance of uniform and discriminatory price auctions in the presence of transmission …

Zonal pricing electricity markets operate sequentially. First, the suppliers compete in a spot market. Second, to …

production capacity. In a zonal pricing electricity market, the one proposed by the European Commission to integrate the European … electricity markets, I analyze the effects that investments in transmission and production capacity have on consumer welfare and …

Electricity markets are becoming more integrated around the world. However, the knowledge of the effects of different … limited. In this paper, I analyze the performance of uniform and discriminatory price auctions in the presence of transmission …