This article characterizes a supply function equilibrium in an auction market constrained by limited capacities of links in a transportation network and limited input/output capacities of participants. The formulation is adapted to a wholesale spot market for electricity managed by the operator...

This chapter describes several forms of auctions, presents the formulations used in the main models, reviews some of the general results and empirical findings, and indicates a few applications. Auctions have been used for millennia, and remain the simplest and most familiar means of price...