. -- Auctions ; supply function equilibria ; convergence of step-functions ; electricity markets …In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction … as the number of steps increases, reconciling the apparently very disparate approaches to modelling electricity markets …

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 …

bidding behaviour in pay-as-bid electricity auctions, such as the balancing mechanism of United Kingdom. Offer curves and mark … ; pay-as-bid auction ; discriminatory auction ; divisible good auction ; oligopoly ; electricity market …

We consider takeover bidding in a Cournot oligopoly when firms have private information concerning the synergy effect … of merging with a takeover target. Two auction rules are considered: standard first-price and profit-share auctions …

welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices … before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …

scheme that combines a first-price license auction with royalty contracts for losers. Prior to bidding firms observe … to their rivals through aggressive bidding, which may however backfire and mislead the innovator to set an excessively … high royalty rate. We provide sufficient conditions for existence of monotone bidding strategies and for the profitability …