The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...

We present a mixed-integer, linear programming model for determining optimal interconnection locations using a cost minimisation approach. Optimal interconnection and capacity investment decisions are determined under various targets for renewable penetration. The model is applied to a test...