Arbeitspapier
Some Inequalities related to the analysis of electricity auctions
Most balaning markets of electric power are organized as uniform-price auctions. In 2001, the balancing market of England and Wales switched to a pay-as-bid auction with the intention of reducing wholesale electricity prices. Numerical simultations of an electricity auction model have indicated that this should lead to decreased average prices. In this article we prove two inequalities which give an analytic proof of this claim in the same model.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2005:23
- Classification
-
Wirtschaft
Existence and Stability Conditions of Equilibrium
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Auctions
Production, Pricing, and Market Structure; Size Distribution of Firms
Oligopoly and Other Imperfect Markets
Electric Utilities
- Subject
-
supply function equilibrium
uniform-price auction
pay-as-bid auctions
discriminatory auction
oligopoly
capacity constraint
wholesale electricity markets
inequalities
Elektrizität
Auktion
Oligopol
Kapazitätsauslastung
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Hästö, Peter
Holmberg, Pär
- Event
-
Veröffentlichung
- (who)
-
Uppsala University, Department of Economics
- (where)
-
Uppsala
- (when)
-
2005
- Handle
- URN
-
urn:nbn:se:uu:diva-20118
- Last update
-
23.04.2022, 9:04 PM CEST
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hästö, Peter
- Holmberg, Pär
- Uppsala University, Department of Economics
Time of origin
- 2005
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