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Forward sales is a credible commitment to aggressive spot market bidding, and it mitigates producers’ market power in electricity markets. Still it can be profitable for a producer to make such a commitment if it results in a soft response from competitors in the spot market (strategies are...
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The objectives of this paper are to assess the progress made towards a single European wholesale electricity market by the end of 2001, and identify remaining sources of economic inefficiency. Statistical analysis of day-ahead prices, in fifteen European locations, show Nord Pool (Scandinavia),...
Persistent link: https://www.econbiz.de/10005118898
From auction theory we know that multi-unit, pay-as-bid auctions in general lead to bid shading and thus to an inecient …
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-price multi-unit procurement iterated auctions. In this paper we present an analysis of the Italian case in order to show the …
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repo auctions. However, whenever interest rates are expected to decline, the minimum bid rate is viewed as too high and …, we perform a panel analysis of the bidder behavior in the repo auctions of the Bundesbank where no minimum bid rate was …
Persistent link: https://www.econbiz.de/10011432155
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest … bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two …
Persistent link: https://www.econbiz.de/10011374396
divestitures. The Dutch government has doneexactly that, organizing auctions to redistribute tenancy rights for highway …
Persistent link: https://www.econbiz.de/10011377389