Discriminatory Price Auctions in Electricity Markets: Low Volatility at the Expense of High Price Levels

Journal of Regulatory Economics

Volumn 23, Issue 2, 2003, Pages 109-123

  Rassenti, Stephen J ^a   Smith, Vernon L ^a   Wilson, Bart J ^a  

^a GEORGE MASON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0037273883     PISSN: 0922680X     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1022250812631     Document Type: Article

References (8)

1. Alsemgeest, P., C. Noussair, and M. Olson. 1998. "Experimental Comparisons of Auctions Under Single- and Multi-Unit Demand." Economic Inquiry 36(1): 87-97.
2. Cox, J., V. Smith, and J. Walker. 1985. "Expected Revenue in Discriminative and Uniform Price Sealed Bid Auctions." In Research in Experimental Economics 3, edited by V. L. Smith. Greenwich, CT: JAI Press.
3. Holt, C. 1989. "The Exercise of Market Power in Laboratory Experiments." Journal of Law and Economics 32: S107-S130.
4. Longford, N. T. 1993. Random Coefficient Models. New York: Oxford University Press.
5. Miller, G., and C. Plott. 1985. "Revenue-Generating Properties of Sealed-Bid Auctions: An Experimental Analysis of One-Price and Discriminative Processes." In Research in Experimental Economics 3, edited by V. L. Smith. Greenwich, CT: JAI Press.
6. Mount, T. 2001. "Market Power and Price Volatility in Restructured Markets for Electricity." Decision Support System (30): 311-325.
7. Olson, M., S. Rassenti, V. Smith, and M. Rigdon. 2001. "Market Design and Motivated Human Trading Behavior in Electricity Markets." Institute of Industrial Engineering Transactions forthcoming.
8. Rassenti, S., V. Smith, and B. Wilson. 2003. "Controlling Market Power and Price Spikes in Electricity Networks: Demand Side-Bidding." Submitted to the Proceedings of the National Academy of Sciences.