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This paper characterizes the Nash equilibrium in a pay-as-bid (discriminatory), divisible-good, procurement auction …-ups of the derived equilibrium are compared to results for the SFE of a uniform-price auction. …
Persistent link: https://www.econbiz.de/10005025460
bids. We consider such auctions when two bidders alternate in raising their bids and where all aspects of the auction are … minimal necessary increment affects the outcome of the auction. We also study the impact of budget caps on total bids. We show …
Persistent link: https://www.econbiz.de/10005588742
In a real-time electric power auction, the bids of producers consist of committed supply as a function of price. The …. I consider a uniform-price auction with a reservation price, where demand is inelastic and exceed the market capacity …
Persistent link: https://www.econbiz.de/10005771033
England and Wales switched to a pay-as-bid auction with the intention of reducing wholesale electricity prices. Numerical … simultations of an electricity auction model have indicated that this should lead to decreased average prices. In this article we …
Persistent link: https://www.econbiz.de/10005644593
This paper derives sufficient conditions for a class of games of complete information , such as first price auctions, to have pure trategy Nash equilibria (PSNE). The paper treats games between two or more heterogeneous agents, each with private information about his own type (for example, a...
Persistent link: https://www.econbiz.de/10005748990
In most wholesale electricity markets generators must submit stepfunction offers of supply to a uniform price auction …
Persistent link: https://www.econbiz.de/10005783849
-good/multi-unit auctions provides guidance on the design of the auction format, setting the reservation price, the rationing rule, and …
Persistent link: https://www.econbiz.de/10008503180
Due to the few computing resource planning options currently available in Grid computing, capacity planning, an old discipline for analyzing resource purchases, is simple to perform. However, once a commercial computing Grid is established, which provides many different resource types at...
Persistent link: https://www.econbiz.de/10008511407
We study a procurement auction recently analysed by Gal-Or et al. (2007). In this auction game the buyer ranks …
Persistent link: https://www.econbiz.de/10008555460
-good/multi-unit auctions provides guidance on the design of the auction format; setting the reservation price; the rationing rule; and …
Persistent link: https://www.econbiz.de/10008491693