The main purpose of this survey paper is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. We describe the key features of the...

I revisit the dominant-firm model and discuss its implicit assumption of a sequential move structure. I argue that a simultaneous move structure is often more reasonable and derive an alternative formulation of the model based on this approach. -- dominant firm ; monopoly with fringe ;...