This paper introduces and tests Bid Function Equilibria (BFE) in the British spot market for electricity. BFE are Nash Equilibria of an oligopoly model of multi-unit auctions under complete information designed to reflect wholesale electricity markets. Unlike existing theories of electricity...

In this paper we consider the conditions under which instrumental variables methods are required in estimating a hedonic price function and its accompanying demand and supply relations. We assume simple functional forms that permit an explicit solution for the equilibrium hedonic price function....

Television is the dominant entertainment medium for hundreds of millions. This chapter surveys the economic forces that determine the production and consumption of this content. It presents recent trends in television and online video markets, both in the US and internationally, and describes...