Short-term congestion forecasting is highlyimportant for market participants in wholesale power marketsthat use Locational Marginal Prices (LMPs) to managecongestion. Accurate congestion forecasting facilitates markettraders in bidding and trading activities and assists marketoperators in system...

This study uses an agent-based test bed (“AMES”)to investigate separation and volatility of locational marginalprices (LMPs) in an ISO-managed restructured wholesale powermarket operating over an AC transmission grid. Particular attentionis focused on the dynamic and cross-sectional response...

The English auction is susceptible to tacit collusion when post-auction interbidderresale is allowed. We show this by constructing equilibria where, withpositive probability, one bidder wins the auction without any competition anddivides the spoils by optimally reselling the good to the other...

This paper applies production theory to define a new set of inputs for U.S. households over the post-World War II period and uses newly constructed data on some of these inputs to fit a completehousehold-demand system, including inputs of women’s and men’s housework, and seven other...

Recent increases in Iowa farmland values and the turbulence in the stock market have resurrected a perennial question. Which is a better investment - the stock market or farmland?[...]

This report examines potential impacts on export markets and prices from commercializing GMOhard red spring wheat in the U.S. within the next two to six years. GMO crop technology offerspossible large benefits to consumers in the future, if plant-breeding concepts in the developmentstage...

This paper revisits the issue of the optimal exchange rate regime in a flexible price environment. The key innovation is that we analyze this question in the context of environments where only a fraction of agents participate in asset market transactions (i.e., asset markets are segmented)....

Programming models approximate market prices and quantities when regulations constrain firm choices, because market outcomes result when welfare is appropriately defined and includes performance and environmental constraints. This study discusses market operation in quality-constrained sectors,...