Amundsen, Eirik; Baldursson, Fridrik; Mortensen, Jørgen - In: Environmental & Resource Economics 35 (2006) 4, pp. 259-287
There is concern that prices in a market for Green Certificates (GCs) primarily based on volatile wind power will fluctuate excessively, leading to corresponding volatility of electricity prices. Applying a rational expectations simulation model of competitive storage and speculation of GCs the...