Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

Designing Electricity Auctions

Natalia Fabra, Nils-Henrik von der Fehr and David Harbord
The RAND Journal of Economics
Vol. 37, No. 1 (Spring, 2006), pp. 23-46
Published by: Wiley on behalf of RAND Corporation
Stable URL: http://www.jstor.org/stable/25046225
Page Count: 24
  • Read Online (Free)
  • Download ($24.00)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Designing Electricity Auctions
Preview not available

Abstract

Motivated by the new auction format in the England and Wales electricity market, as well as the recent debate in California, we characterize bidding behavior and market outcomes in uniform and discriminatory electricity auctions. Uniform auctions result in higher average prices than discriminatory auctions, but the ranking in terms of productive efficiency is ambiguous. The comparative effects of other market design features, such as the number of steps in suppliers' bid functions, the duration of bids, and the elasticity of demand are analyzed. We also consider the relationship between market structure and market performance in the two auction formats.

Page Thumbnails

  • Thumbnail: Page 
23
    23
  • Thumbnail: Page 
24
    24
  • Thumbnail: Page 
25
    25
  • Thumbnail: Page 
26
    26
  • Thumbnail: Page 
27
    27
  • Thumbnail: Page 
28
    28
  • Thumbnail: Page 
29
    29
  • Thumbnail: Page 
30
    30
  • Thumbnail: Page 
31
    31
  • Thumbnail: Page 
32
    32
  • Thumbnail: Page 
33
    33
  • Thumbnail: Page 
34
    34
  • Thumbnail: Page 
35
    35
  • Thumbnail: Page 
36
    36
  • Thumbnail: Page 
37
    37
  • Thumbnail: Page 
38
    38
  • Thumbnail: Page 
39
    39
  • Thumbnail: Page 
40
    40
  • Thumbnail: Page 
41
    41
  • Thumbnail: Page 
42
    42
  • Thumbnail: Page 
43
    43
  • Thumbnail: Page 
44
    44
  • Thumbnail: Page 
45
    45
  • Thumbnail: Page 
46
    46