This paper studies the evolutionary stability of the unique Nash equilibrium of a first price sealed bid auction. It is shown that the Nash equilibrium is not asymptotically stable under payoff monotonic dynamics for arbitrary initial populations. In contrast, when the initial population...

Classical auction theory relies heavily on the assumption of perfectly rational bidders that play according to their Nash Equilibrium Strategies. An alternative model is developed in this Thesis. It develops a framework for analyzing evolutionary learning in repeated auctions - bidders'...

Because sequential auctions have permeated society more than ever, it is desirable for participants to have the optimal strategies beforehand. However, finding closed-form solutions to various sequential auction games is challenging. Current literature provides some answers for specific cases...

The US electric utility industry is undergoing a period of fundamental change that has significant implications for Native American tribes. Although many details remain to be determined, the future electric power industry will be very different from that of the present. It is anticipated that...

This report analyzes developments in the electric utility industry using the tools of transaction cost economics. During the last thirty years, the tools of economic analysis have been substantially expanded--notably, Oliver Williamson, building on the insights of Coase and others, has made...

For the first time in many decades, consumers are being given a choice of who supplies their electric power and how that power is generated. One of these choices is to support electricity generation from more environmentally beneficial energy sources. The term green power generally refers to...

The electricity industry in the US today is at a crossroads. The restructuring debate going on in most regions has made it clear that the traditional model of vertically integrated firms serving defined franchise areas and regulated by state commissions may not be the pattern for the future. The...

The term ``transition costs`` describes the potential revenue shortfall (or welfare loss) a utility (or other actor) may experience through government-initiated deregulation of electricity generation. The potential for transition costs arises whenever a regulated industry is subject to...

This publication, Electric Trade in the US 1992 (ELECTRA), is the fourth in a series of reports on wholesale power transactions prepared by the Electric Data Systems Branch, Survey Management Division, Office of Coal, Nuclear, Electric and Alternate Fuels, Energy Information Administration...

As private power has grown to become a significant part of the electricity system, increasing concern about its financial implications has arisen. In many cases, the source of this concern has been the substantial reliance of these projects on debt financing. This study examines debt leveraging...