In this paper we explain the operation and design of day-ahead markets in an electricity market. Day-ahead markets complement real-time markets which must be run to ensure balance in the system and offer a number of benefits to electricity market participants. We argue that in the context of the...

Our study is based upon publicly available sources of information. Internationally published statistics have been used to supplement New Zealand data to assess New Zealand's relative position. While international studies have provided some basis for comparison the supplementary information...

In this book we consider the tradeable property rights framework as a method of allocating water. Our objectives are to explain why such an approach can improve aspects of New Zealand's current water allocation framework to establish the appropriate set of institutional arrangements for a...

In this paper we provide an economic perspective on the application of competition law to contracts.

Allocative and productive efficiency are static concepts in the sense that they relate to welfare at a point in time. Allocative and productive efficiency reflect the outcome at a single point in time of resource allocation and production decisions.

Slide presentation by Lewis Evans to LEANZ members in Auckland on Monday evening 26 September 2011.

This seminar will update developments on changes to Part 4A of the Commerce Act as outlined in the Commerce Amendment Bill 2008. Topics will include: (1) purpose statements (2) thresholds/default price-quality paths and problems in transition (3) the scope and meaning of input methodologies (4)...

Until the late 1980s competition between universities was limited and the allocation of funding by the University Grants Committee created a system that was more akin to central planning than to a competitive market. Following the advice of the Treasury the Labour government of the late 1980s...

This supplement published in March of 2004 discusses:Aspects of a water allocation framework Valuing water in a water market Water allocation under the Waitaki billHow the Waitaki bill fits a desirable framework

The purpose of this paper is to point out the feasibility of joint ventures contracting out of using Courts to resolve disputes and to explain and assess the enforcement of the rules that form the governance of the New Zealand Electricity (spot) Market (NZEM). This market has no basis in...