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

We investigate price responsiveness of wholesale electricity customers in the hourly Ontario wholesale electricity market. We use detailed generator and market level data to calculate market power measures such as the Lerner Index, Residual Supplier Index, and Pivotal Supplier Index which are...

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...

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....

The concept of a supply function equilibrium (SFE) has been widely used to study generators' bidding behavior and market power issues in wholesale electricity markets. Observers of electricity markets have noted the important role that pivotal suppliers, those who can substantially raise the...