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Like other network industries, the European gas supply industry has been liberalised, along the lines of what has been done in the United Kingdom and the United States, by opening up to competition the upstream and downstream segments of essential transmission infrastructure. The aim of this...
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incentives for economic activity to concentrate. Our theory provides a novel scaling law; a magnification effect; and reveals a …
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the real-time market. The paper also characterizes a regulation that implements the efficient outcome. …
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