This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

We discuss the strategic behavior of agents on a financial market in the presence of a central bank which is borrowing and lending money.

Electricity markets in the United States presently employ an auction mechanism to determine the dispatch of power generation units. In this market design, generators submit bid prices to a regulation agency for review, and the regulator conducts an auction selection in such a way that satisfies...

In this paper, we study the local dial-up Internet access market using a game theoretic model. Inparticular, we consider the Nash equilibrium of the service providers and examine their behavioron investment and output level. We calibrate this model to fit the industry structure and datafound in...

Der vorliegende Beitrag befasst sich mit dem Zusammenwirken von zwei externen Effekten, die jeweils für sich eine effiziente Kapitalallokation behindern können.Zum Einen geht es darum, dass unter Umständen an sich Erfolg versprechende Investitionsgelegenheiten nur deswegen nicht realisiert...

A proper security architecture is an essential part of implementing robust and reliable networked applications. Security patterns have shown how reoccurring problems can be best solved with proven solutions. However, while they are critical for ensuring the confidentiality, integrity and...

In this paper, we develop a model of regulation for a set of heterogenous farmers whose production yields to environmental externalities. The goal of the regulator is first to offer some income support depending on collective preferences towards income redistribution and second to internalize...