A goal of this paper is to compare results for discriminatory auctions to results for uniform-price auctions when suppliers have capacity constraints. We have a pretty good understanding of what equilibrium results look like for the uniform-price auctions. But an unresolved problem is what...

The concept of a supply function equilibrium (SFE) has been widely used to study generators' bidding behavior and market power issues in wholesale electricity markets. Observers of electricity markets have noted the important role that pivotal suppliers, those who can substantially raise the...

We investigate wholesale demand response to hourly price movements in the Ontario wholesale electricity market using detailed generator and market level data. We calculate hourly market power measures such as the Lerner Index and the Residual Supplier Index, which are utilized in a Cournot...