A novel proposal for combining forecast distributions is to use quantile regression to combine quantile estimates. We consider the usefulness of the resultant linear combining weights. If the quantile estimates are unbiased, then there is strong intuitive appeal for omitting the constant and...

Discusses how a repetitive competitive bidding model, developed previously, can be adapted to the differing features of the situation. Focuses, first, on identifying the implications for decision analysis of the strategic nature of repetitive bidding and then on the impact of data to aid in...

Looks at the competitive bidding situation in a single occasion context. Provides a “thinking algorithm” model based on decision analysis which requires the decision maker to make subjective assessments of uncertain quantities. Uses the case study of a tender of unpounded butter offered to...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We specify a structural asymmetric vector error-correction model to identify and estimate the demand and supply functions in hourly day-ahead wholesale electricity markets. In doing so, we provide, inter alia, new insights into a well-established but...</p>

In competitive product markets, repeated interaction among producers with similar economic characteristics would be expected to result in convergence of their behaviors. If convergence does not occur, it raises fundamental questions related to the sustainability of heterogeneous competitive...

Whilst the benefits of forward contracting for goods and services have been extensively researched in terms of mitigating market power effects in spot markets, we analyse how the risk in spot price formation induces a counteracting premium in the contract prices. We consider and test a...