been imposed on emerging competitive wholesale and retail markets. These mechanisms include spot market price caps …, operating reserve requirements, non-price rationing protocols, and administrative protocols for managing system emergencies … when there are price-insensitive retail consumers, and their load serving entities can choose any level of rationing they …

This paper studies the effect of two regulatory instruments - a price cap and a reference price system - a mandatory … n differentiated generic versions. The price cap reduces only the brand-name price, the reference price system reduces … the brand-name price and generic prices. Both regulatory instruments reduce the generic market share and the number of …