Burtraw, Dallas; Palmer, Karen L.; Bharvirkar, Ranjit; … - 2001
We investigate the cost-effectiveness and distributional effects of a revenue-raising auction, grandfathering, and a …. We solve a detailed national electricity market model and find the auction is roughly one-half the societal cost of the … competition in the electricity sector. The differences in the cost of the approaches flow from the effect of each approach on …