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We analyze a market game where firms choose capacities under uncertainty about future market conditions and make output choices after uncertainty has unraveled. We show existence and uniqueness of equilibrium under imperfect competition and establish that capacity choices by strategic firms are...
Persistent link: https://www.econbiz.de/10010299755
In liberalized electricity markets strategic firms compete in an environment characterized by fluctuating demand and non-storability of electricity. While spot market design under those conditions by now is well understood, a rigorous analysis of investment incentives is still missing. Existing...
Persistent link: https://www.econbiz.de/10010427559
We analyze a market game where firms choose capacities under uncertainty about future market conditions and make output choices after uncertainty has unraveled. We show existence and uniqueness of equilibrium under imperfect competition and establish that capacity choices by strategic firms are...
Persistent link: https://www.econbiz.de/10003894164
In liberalized electricity markets strategic firms compete in an environment characterized by fluctuating demand and non-storability of electricity. While spot market design under those conditions by now is well understood, a rigorous analysis of investment incentives is still missing. Existing...
Persistent link: https://www.econbiz.de/10003981050
Persistent link: https://www.econbiz.de/10009161184
In this paper we propose a three-level computational equilibrium model that allows to analyze the impact of the regulatory environment on transmission line expansion (by the regulator) and investment in generation capacity (by private firms) in liberalized electricity markets. The basic model...
Persistent link: https://www.econbiz.de/10010358749
In this paper we propose a three-level computational equilibrium model that allows to analyze the impact of the regulatory environment on transmission line expansion (by the regulator) and investment in generation capacity (by private firms) in liberalized electricity markets. The basic model...
Persistent link: https://www.econbiz.de/10010337631
Persistent link: https://www.econbiz.de/10011436844
Persistent link: https://www.econbiz.de/10003829492
Persistent link: https://www.econbiz.de/10012631085