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Renewable support, intermittency and market power: An equilibrium investment approach

Darudi, Ali; Weigt, Hannes - 2019

Renewable energy sources (RES) play an increasing role in many electricity systems thanks to climate and support policies and subsequent cost reductions in recent years. Compared to conventional generation technologies, RES has two main important distinctive features: First, their cost pattern...

Persistent link: https://www.econbiz.de/10012140907

Increase-Decrease Game under Imperfect Competition in Two-stage Zonal Power Markets – Part I: Concept Analysis

Sarfati, Mahir; Hesamzadeh, Mohammad Reza; Holmberg, Pär - 2018

This paper is part I of a two-part paper. It proposes a two-stage game to analyze imperfect competition of producers in zonal power markets with a day-ahead and a real-time market. We consider strategic producers in both markets. They need to take both markets into account when deciding what to...

Persistent link: https://www.econbiz.de/10012145478

Simulation and evaluation of zonal electricity market designs

Hesamzadeh, Mohammad Reza; Holmberg, Pär; Sarfati, Mahir - 2018

Zonal pricing with countertrading (a market-based redispatch) gives arbitrage opportunities to the power producers located in the export-constrained nodes. They can increase their profit by increasing the output in the dayahead market and decrease it in the real-time market (the inc-dec game)....

Persistent link: https://www.econbiz.de/10011917087

Strategic investment, forward markets and competition

Aichele, Markus - 2014

I model the strategic interaction between firms, that face decisions on investment, forward contracts and spot market quantities. For an investment decision that takes place after firms have contracted forward but before firms compete on the spot market (medium term investment), competition...

Persistent link: https://www.econbiz.de/10010426993

Stability of collusion and quality differentiation: A Nash bargaining approach

Athanasopoulos, Thanos; Dindaroglu, Burak; Petropoulos, … - 2021

parameter that determines firms' market strategies. We study collusion in a quality-differentiated duopoly and we adopt a Nash … as continuous functions of quality asymmetry. We obtain novel and surprising results. Stability of collusion is … difference makes collusion less stable. The opposite holds for high levels of differentiation. Also, while low quality firms are …

Persistent link: https://www.econbiz.de/10013361954

Artificial Collusion: Examining Supracompetitive Pricing by Q-learning Algorithms

den Boer, Arnoud V.; Meylahn, Janusz M.; Schinkel, … - 2022

We examine recent claims that a particular Q-learning algorithm used by competitors 'autonomously' and systematically learns to collude, resulting in supracompetitive prices and extra profits for the firms sustained by collusive equilibria. A detailed analysis of the inner workings of this...

Persistent link: https://www.econbiz.de/10013427594

They are among us: Pricing behavior of algorithms in the field

Fourberg, Niklas; Marques-Magalhaes, Katrin; Wiewiorra, … - 2022

We analyze pricing patterns and price level effects of algorithms in the market segments for OTC-antiallergics and -painkillers in Germany. Based on a novel hourly dataset which spans over four months and contains over 10 million single observations, we produce the following results. First,...

Persistent link: https://www.econbiz.de/10014282595

Collusion Sustainability with a Capacity Constrained Firm

Madio, Leonardo; Pignataro, Aldo - 2022

constrained. We show that collusion sustainability is non-monotonic in the size of the capacity constrained firm, which has little …

Persistent link: https://www.econbiz.de/10014290080

Price Matching in Online Retail

Bottasso, Anna; Robbiano, Simone; Marocco, Paolo - 2023

We analyze a sample of consumer-electronics products sold by the US NewEgg online-retailer to study the impact of Price Matching Guarantees (PMGs) policies on prices. By applying aDifference-in-Differences approach,we find that prices of the policy-adopting retailer increase by 4.7% during the...

Persistent link: https://www.econbiz.de/10014433640

Algorithmic price recommendations and collusion: Experimental evidence

Hunold, Matthias; Werner, Tobias - 2023

This paper investigates the collusive and competitive effects of algorithmic price recommendations on market outcomes. These recommendations are often non-binding and common in many markets, especially on online platforms. We develop a theoretical framework and derive two algorithms that...

Persistent link: https://www.econbiz.de/10014446326