electricity auctions. This paper presents an intuitive account of current understanding and shows how welfare losses depend on the …/multi-unit auctions provides guidance on the design of the auction format, setting the reservation price, the rationing rule, and … restrictions on the offer curves in wholesale electricity auctions …

electricity demand, to meet supply adequacy problems. In this paper, we analyze what it requires to have a competitive auction … number of bidders are not enough warranty for fierce competition. Electricity forward-contract auctions may be uncompetitive …Brazil, Chile and other developing countries have recently experienced with forward or long-run contract auctions for …

the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium … marginal cost of suppliers. The leading example is the electricity industry, where there is a capacity market clearing before …

-unit (pay-as-bid) auctions. I characterize bidding behavior and investigate auction design features that could increase revenues … more strongly when goods are close substitutes. To increase revenues, the seller can offer total supply quantities that are … (stochastically) unequal in size. This fosters more aggressive bidding and provides a rationale to hold separate, parallel auctions …

One of the main elements of the current reform of electricity trading in the UK is the change from a uniform price … auction in the wholesale market to discriminatory pricing. We analyse this change under two polar market structures (perfectly … competitive and monopolistic supply), with demand uncertainty. We find that under perfect competition there is a direct trade …