This paper analyses capacity markets and proposes an approach to incorporate the flexibility of residential consumers in these markets considering reliability as a differentiated product. We introduce and assess the potential of non-linear pricing schemes, specifically priority pricing...

Increases in investor exposure to prominent systematic trading strategies such as momentum correlate with lower returns to these strategies. A 1 percentage point increase in gross momentum exposure as a percentage of market capitalization corresponds with a permanent 1.1 percentage point decline...

We analyze a two-stage game of strategic firms facing uncertain demand and exerting market power in decentralized electricity markets. These firms choose their generation capacities at the first stage while anticipating a perfectly competitive future electricity spot market outcome at the second...