Micola, Augusto Ruperez; Banal-Estanol, Albert - Luxembourg School of Finance, Faculté de droit, … - 2011
This paper analyses the influence of production intermittence on spot markets. We use both game theory and an adaptation of the Camerer and Ho (1999) behavioural model. Controlling for costs, we find that intermittent technologies yield lower prices when incumbents have individual market power,...