The European electricity market design is based on zonal markets with uniform prices. Locational price signals within these zones - necessary to ensure long-term efficiency - are not provided. Specifically, if intra-zonal congestion occurs due to missing grid expansion, the market design is...

Introduction to managerial economics -- Demand -- Elasticity -- Supply -- Competitive markets -- Economic efficiency -- Costs -- Monopoly -- Pricing -- Strategic thinking -- Oligopoly -- Externalities -- Asymmetric information -- Incentives and organization -- Regulation