In this paper prepared for the Miller Upton Forum on the Wealth and Well-Being of Nations, Kiesling asks why in this digital age the basic technology supporting the production and distribution of electric power has changed so little since the industry’s birth in the early twentieth century....

Starting from a theoretical model of coalition formation, we analyse which price markers are more adequate to identify clues of a partial cartel. Based on the theoretical model, we argue that measures of the shape of a distribution (such as kurtosis and skewness) are more adequate to partial...