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A forward reliability market is presented. The market coordinates new entry through the forward procurement of reliability options—physical capacity bundled with a financial option to supply energ...
This paper provides a prospective and retrospective quantitative assessment of the impact of a passive vertical integration between a large electricity retailer and a large electricity generator i...
In its December 15, 2000 Report of the California electricity industry, the Federal Energy Regulatory Commission (FERC) stated that electricity prices in California during the summer and autumn of 2...
This paper measures the unilateral incentive each of the five largest electricity suppliers in California had to exercise market power in the state’s wholesale market during the four-month p...
The past two decades of international experience with wholesale electricity markets has  demonstrated  that  significant  co...
The role of the regulatory process is to ensure that the conditions necessary for vigorous competition exist and to limit the economic harm associated with the exercise of unilateral market power w...
Such generators possess ‘local’ monopoly power, and in deregulated settings have frequently been able to extract significant rents from their advantageous locations within a power system. Sinc...
We use highway procurement data from Michigan to study the e§ect of Örmsídistances to the auction site on participation and bidding decisions. Motivated by ìreduced for evidence, we acco...
The proposed model, while highly stylized, maintains certain symmetry properties that allow us to obtain equilibrium existence and uniqueness. We then study the comparative statics of the model and...
Antitrust law, policy, and practice are the product of a long and fruitful interdisciplinary collaboration between law and economics. Our chapter addresses an important aspect of that collaboration: t...
The problem of optimal management of a water reservoir by a hydropower producer is necessarily a dynamic one since water can be transferred between periods. A hydropower producer being a monopolist c...

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