Este estudio se enmarca en el contexto de un sector eléctrico que funciona de manera adecuada, pero en una coyuntura en la que se observó un comportamiento atípico en los precios de energía eléctrica, que abrió espacio para que se presentaran discusiones válidas, entre industriales,...

We consider competitive behaviour in sequential markets when current success or failure may affect the probability of future market opportunities. The analysis is conducted in a set up which may be interpreted as two private-value, sealed-bid, second-price sequential auctions. We demonstrate...

In many regulated industries labour uions are strong and there is clear empirical evidence of labour rent-sharing. We study optimal regulation in a model in which wages are determined endogenously by wage bargaining at the firm level. Compared to the case in which wages do not depend on the...

We consider the effects of vertical integration on the performance of long-term and spot markets when spot prices are uncertain and agents are risk averse. We find that vertical integration impairs market performance by increasing the gap between contract and (expected) spot prices. This holds...