Supatgiat, Chonawee; Zhang, Rachel Q; Birge, John R - In: Computational Economics 17 (2001) 1, pp. 93-121
We consider an open electricity market with demand uncertainty. In this market, the generators each decide on a bidding price to maximize profit. Units are dispatched in order of the bid from lowest to highest until demand is satisfied. The market clearing price is the highest bid among the...