We present experimental results from a series of sessions organized using the Power Market simulator; a software designed to realistically replicate the Spanish Electricity Market. In the experiments reported here we compare the status quo to two alternative treatments which represent...

The assumption that under optimal nodal pricing passive transmission line owners collect all the congestion rents on a constrained line, as well as incremental loss rents, is not supported by the experimental results in a three-node radial network system with four buyers and six generators at...

Part I Smart Grid Economics -- Chapter 1 Economics of Smart Grid: Smart Grid, Time-dependent Pricing (Dynamic Pricing), Demand Response -- Part II Field Experimental Economics -- Chapter 2 Economics of Field Experiment: History of Field Experiment, especially in Energy and Environmental...

In the process of regulatory reform in the electric power industry, the mitigation of market power is one of the basic problems regulators have to deal with. We use experimental data to study the sources of market power with supply function competition, akin to the competition in wholesale...

Despite the efforts of restructuring power markets over the last decades, the lack of demand response in the retail electricity markets remains a significant concern. Possible demand response would help to reduce prices and volatility by better matching supply and demand through improved price...