We study equilibrium investment strategies of firms competing in stochastic dynamic market settings and facing two types of investment structures: investment with significant lead time (or time-to-build) and investment without (or minor) lead time. We investigate how investment behavior changes...

We investigate the market implications of ownership of a new low-cost production technology. We relate our theoretical findings to measure the impact of renewable energy penetration into electricity markets and examine how the ownership of renewable capacity changes market outcomes (prices,...

This paper investigates demand response to crude oil price movements before and after the recent global financial and economic crisis. It employs several market power indices to structurally estimate price elasticities. A newly developed market power index for crude oil markets is implemented....

We use detailed data from all generators in a major wholesale electricity market to investigate cross-border electricity trade and its impact on air emissions and social welfare. Using the technical characteristics of the generators and financial data we run a competition model every hour and...

We investigate wholesale demand response to hourly price movements in the Ontario wholesale electricity market using detailed generator and market level data. We calculate hourly market power measures such as the Lerner Index and the Residual Supplier Index, which are utilized in a Cournot...

A goal of this paper is to compare results for discriminatory auctions to results for uniform-price auctions when suppliers have capacity constraints. We have a pretty good understanding of what equilibrium results look like for the uniform-price auctions. But an unresolved problem is what...