Price Regulations in a Multi-unit Uniform Price Auction

Publikation: KonferencebidragPaperForskningpeer review

Resumé

Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small firms.
OriginalsprogEngelsk
Publikationsdato2015
Antal sider32
StatusUdgivet - 2015
Begivenhed10th International Conference on Competition and Regulation: Advances in the Analysis of Competition Policy and Regulation - Rethymnon, Grækenland
Varighed: 5 jul. 20157 jul. 2015
Konferencens nummer: 10
http://www.cresse.info/default.aspx?articleID=5710

Konference

Konference10th International Conference on Competition and Regulation
Nummer10
LandGrækenland
ByRethymnon
Periode05/07/201507/07/2015
Internetadresse

Bibliografisk note

CBS Bibliotek har ikke adgang til materialet

Emneord

  • Electricity
  • Capacity markets
  • Price regulation

Citer dette

Boom, A. (2015). Price Regulations in a Multi-unit Uniform Price Auction. Afhandling præsenteret på 10th International Conference on Competition and Regulation, Rethymnon, Grækenland.
Boom, Anette. / Price Regulations in a Multi-unit Uniform Price Auction. Afhandling præsenteret på 10th International Conference on Competition and Regulation, Rethymnon, Grækenland.32 s.
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Boom, A 2015, 'Price Regulations in a Multi-unit Uniform Price Auction' Paper fremlagt ved 10th International Conference on Competition and Regulation, Rethymnon, Grækenland, 05/07/2015 - 07/07/2015, .

Price Regulations in a Multi-unit Uniform Price Auction. / Boom, Anette.

2015. Afhandling præsenteret på 10th International Conference on Competition and Regulation, Rethymnon, Grækenland.

Publikation: KonferencebidragPaperForskningpeer review

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T1 - Price Regulations in a Multi-unit Uniform Price Auction

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N1 - CBS Library does not have access to the material

PY - 2015

Y1 - 2015

N2 - Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small firms.

AB - Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small firms.

KW - Electricity

KW - Capacity markets

KW - Price regulation

KW - Electricity

KW - Capacity markets

KW - Price regulation

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Boom A. Price Regulations in a Multi-unit Uniform Price Auction. 2015. Afhandling præsenteret på 10th International Conference on Competition and Regulation, Rethymnon, Grækenland.