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Bidding under price uncertainty in multi-unit pay-as-bid procurement auctions for power systems reserve

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  • Swider, Derk J.
  • Weber, Christoph

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  • Swider, Derk J. & Weber, Christoph, 2007. "Bidding under price uncertainty in multi-unit pay-as-bid procurement auctions for power systems reserve," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1297-1308, September.
    • Handle: RePEc:eee:ejores:v:181:y:2007:i:3:p:1297-1308
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    2. WEI, Jing-Yuan & SMEERS, Yves, 1999. "Spatial oligopolistic electricity models with Cournot generators and regulated transmission prices," LIDAM Reprints CORE 1454, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    6. Federico, Giulio & Rahman, David, 2003. "Bidding in an Electricity Pay-as-Bid Auction," Journal of Regulatory Economics, Springer, vol. 24(2), pages 175-211, September.
    7. Green, Richard J & Newbery, David M, 1992. "Competition in the British Electricity Spot Market," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 929-953, October.
    8. Lawrence Friedman, 1956. "A Competitive-Bidding Strategy," Operations Research, INFORMS, vol. 4(1), pages 104-112, February.
    9. Cameron, Lisa & Cramton, Peter, 1999. "The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM," The Electricity Journal, Elsevier, vol. 12(3), pages 71-81, April.
    10. Irving H. Lavalle, 1967. "A Bayesian Approach to an Individual Player's Choice of Bid in Competitive Sealed Auctions," Management Science, INFORMS, vol. 13(7), pages 584-597, March.
    11. Robert M. Stark & Michael H. Rothkopf, 1979. "Competitive Bidding: A Comprehensive Bibliography," Operations Research, INFORMS, vol. 27(2), pages 364-390, April.
    12. Laffont, Jean-Jacques, 1997. "Game theory and empirical economics: The case of auction data 1," European Economic Review, Elsevier, vol. 41(1), pages 1-35, January.
    13. Bolle, Friedel, 1992. "Supply function equilibria and the danger of tacit collusion : The case of spot markets for electricity," Energy Economics, Elsevier, vol. 14(2), pages 94-102, April.
    14. Klemperer, Paul, 1999. " Auction Theory: A Guide to the Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 13(3), pages 227-86, July.
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    Cited by:

    1. Heim, Sven & Götz, Georg, 2021. "Do Pay-As-Bid Auctions Favor Collusion? Evidence from Germany's market for reserve power," Energy Policy, Elsevier, vol. 155(C).
    2. Just, Sebastian & Weber, Christoph, 2008. "Pricing of reserves: Valuing system reserve capacity against spot prices in electricity markets," Energy Economics, Elsevier, vol. 30(6), pages 3198-3221, November.
    3. Farrell, Niall & Devine, Mel, 2015. "How do External Costs affect Pay-as-bid Renewable Energy Connection Auctions?," Papers WP517, Economic and Social Research Institute (ESRI).
    4. Ying Yu & Tongdan Jin & Chunjie Zhong, 2015. "Designing an Incentive Contract Menu for Sustaining the Electricity Market," Energies, MDPI, vol. 8(12), pages 1-22, December.
    5. Wang, Peng & Zareipour, Hamidreza & Rosehart, William D., 2011. "Characteristics of the prices of operating reserves and regulation services in competitive electricity markets," Energy Policy, Elsevier, vol. 39(6), pages 3210-3221, June.
    6. Anna Pechan & Christine Brandstätt & Gert Brunekreeft & Martin Palovic, "undated". "Risks and incentives for gaming in electricity redispatch markets," Bremen Energy Working Papers 0043, Bremen Energy Research.
    7. Luigi Grossi & Fany Nan, 2017. "Forecasting electricity prices through robust nonlinear models," Working Papers 06/2017, University of Verona, Department of Economics.
    8. Ghaninejad, Mousa, 2020. "عرضه، تقاضا، و پیشنهاد قیمت در بازار برق ایران [Supply, Demand, and Bidding in Iran’s Electricity Market]," MPRA Paper 105340, University Library of Munich, Germany.
    9. Nitsch, Felix & Deissenroth-Uhrig, Marc & Schimeczek, Christoph & Bertsch, Valentin, 2021. "Economic evaluation of battery storage systems bidding on day-ahead and automatic frequency restoration reserves markets," Applied Energy, Elsevier, vol. 298(C).
    10. Justus Haucap, Ulrich Heimeshoff, and Dragan Jovanovic, 2014. "Competition in Germany's Minute Reserve Power Market: An Econometric Analysis," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2).
    11. Fabian Ocker & Karl‐Martin Ehrhart & Marion Ott, 2018. "Bidding strategies in Austrian and German balancing power auctions," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 7(6), November.
    12. Bohlayer, Markus & Fleschutz, Markus & Braun, Marco & Zöttl, Gregor, 2020. "Energy-intense production-inventory planning with participation in sequential energy markets," Applied Energy, Elsevier, vol. 258(C).
    13. Karaca, Orcun & Delikaraoglou, Stefanos & Hug, Gabriela & Kamgarpour, Maryam, 2022. "Enabling inter-area reserve exchange through stable benefit allocation mechanisms," Omega, Elsevier, vol. 113(C).
    14. Luigi Grossi & Fany Nan, 2018. "The influence of renewables on electricity price forecasting: a robust approach," Working Papers 2018/10, Institut d'Economia de Barcelona (IEB).
    15. Lopez, A. & Ogayar, B. & Hernández, J.C. & Sutil, F.S., 2020. "Survey and assessment of technical and economic features for the provision of frequency control services by household-prosumers," Energy Policy, Elsevier, vol. 146(C).
    16. Justus Haucap & Ulrich Heimeshoff & Dragan Jovanovic, 2014. "Competition in Germany’s Minute Reserve Power Market: An Econometric Analysis," The Energy Journal, , vol. 35(2), pages 137-156, April.
    17. Kumbartzky, Nadine & Schacht, Matthias & Schulz, Katrin & Werners, Brigitte, 2017. "Optimal operation of a CHP plant participating in the German electricity balancing and day-ahead spot market," European Journal of Operational Research, Elsevier, vol. 261(1), pages 390-404.
    18. Grossi, Luigi & Nan, Fany, 2019. "Robust forecasting of electricity prices: Simulations, models and the impact of renewable sources," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 305-318.
    19. Kuttner, Leopold, 2022. "Integrated scheduling and bidding of power and reserve of energy resource aggregators with storage plants," Applied Energy, Elsevier, vol. 321(C).
    20. Rosen, Christiane & Madlener, Reinhard, 2012. "Auction Design for Local Reserve Energy Markets," FCN Working Papers 7/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Mar 2013.
    21. Ødegaard, Fredrik & Anderson, Chris K., 2014. "All-pay auctions with pre- and post-bidding options," European Journal of Operational Research, Elsevier, vol. 239(2), pages 579-592.
    22. Grueger, Fabian & Möhrke, Fabian & Robinius, Martin & Stolten, Detlef, 2017. "Early power to gas applications: Reducing wind farm forecast errors and providing secondary control reserve," Applied Energy, Elsevier, vol. 192(C), pages 551-562.

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