marginal cost of suppliers. The leading example is the electricity industry, where there is a capacity market clearing before … the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …

The theory of infinitely repeated games finds that players will likely learn to collude, given sufficient incentive to … do so, enabling them to capture greater payoffs than those attainable in the static setting. The theory posits that … discourages “cheating.” This paper models the restructured electricity spot market as an infinitely repeated, uniform last …

general equilibrium model, MERGE, that includes a capacity expansion submodel of the electricity sector with demand … projections of load duration curves and hours of activity of various electricity technologies. …