We investigate the relationship between the gas spot market and the price of gas storage capacity. Contrary to the common belief, the auction prices for gas storage are mostly affected by the volatility of current market prices rather than by the winter-summer price differences. This paper...

This paper investigates whether and when fractional degree stochastic dominance rules can inherit the invariance properties of integer-degree stochastic dominance. Within a general formulation, we first show that it is impossible for fractional degree stochastic dominance to obey all the six...