We study the price competition between two firms that have to advertise to reach consumers. Advertising can be either informative or persuasive (branding); the latter increases consumers' willingness to pay. When both firms advertise informatively, the pricing is in mixed strategies, and the...

In Germany, substantial drops in wholesale power prices have become a regular phenomenon. While such price drops have far-reaching implications for the functioning of the power market, their underlying determinants remain poorly understood. To fill this gap, we propose a Markov regime-switching...

The long-run development of power markets will be deeply affected by the gradual substitution of fossil fuel-based generation technologies by renewable energy technologies (RES). However, the intermittent supply of RES, in combination with the temporal non-homogeneity of electricity demand,...

In Germany, substantial drops in wholesale power prices have become a regular phenomenon. While such price drops have far-reaching implications for the functioning of the power market, their underlying determinants remain poorly understood. To fill this gap, we propose a Markov regime-switching...

The long-run development of power markets will be deeply affected by the gradual substitution of fossil fuel-based generation technologies by renewable energy technologies (RES). However, the intermittent supply of RES, in combination with the temporal non-homogeneity of electricity demand,...

This paper provides a detailed overview of the current state of scientific literature on the coordination of different agents in smart distribution systems. The coordination of agents can be market-driven or network-related. As an important market-driven measure, approaches that allow to reflect...

In this paper we propose an equilibrium model that allows to analyze subsidization schemes to affect locational choices for generation investment in electricity markets. Our framework takes into account generation investment decided by private investors and redispatch as well as network...

Strongly correlated and spatially concentrated curtailment of power plants strongly affects the electricity market. Such curtailment is observed during heat waves in middle Europe, for example. First, curtailed power plants need to be substituted by more expensive ones. Second, additional...

Strongly correlated and spatially concentrated curtailment of power plants strongly affects the electricity market. Such curtailment is observed during heat waves in middle Europe, for example. First, curtailed power plants need to be substituted by more expensive ones. Second, additional...

The increasing share of renewables in the electricity system results in congestion on all network levels. To address this congestion, the EU Commission proposed that distribution network operators become responsible for local congestion management. Within this paper we analyze the institutional...