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Theory and Application of Linear Supply Function Equilibrium in Electricity Markets

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Cited by:

  1. Perez, Eloy, 2007. "A model of vertical integration and investment in generation capacity in electricity markets: The case of the bidding game," Socio-Economic Planning Sciences, Elsevier, vol. 41(4), pages 272-290, December.
  2. David P. Brown & Andrew Eckert, 2022. "Pricing Patterns in Wholesale Electricity Markets: Unilateral Market Power or Coordinated Behavior?," Journal of Industrial Economics, Wiley Blackwell, vol. 70(1), pages 168-216, March.
  3. Majid Al-Gwaiz & Xiuli Chao & Owen Q. Wu, 2017. "Understanding How Generation Flexibility and Renewable Energy Affect Power Market Competition," Manufacturing & Service Operations Management, INFORMS, vol. 19(1), pages 114-131, February.
  4. Kamiński, Jacek, 2012. "The development of market power in the Polish power generation sector: A 10-year perspective," Energy Policy, Elsevier, vol. 42(C), pages 136-147.
  5. Xavier Vives, 2011. "Strategic Supply Function Competition With Private Information," Econometrica, Econometric Society, vol. 79(6), pages 1919-1966, November.
  6. Joseph Mullins & Liam Wagner & John Foster, 2010. "Price Spikes in Electricity Markets: A Strategic Perspective," Energy Economics and Management Group Working Papers 05, School of Economics, University of Queensland, Australia.
  7. Brown, David P. & Eckert, Andrew & Eckert, Heather, 2018. "Carbon pricing with an output subsidy under imperfect competition: The case of Alberta's restructured electricity market," Resource and Energy Economics, Elsevier, vol. 52(C), pages 102-123.
  8. F. Cordoni, 2020. "A comparison of modern deep neural network architectures for energy spot price forecasting," Digital Finance, Springer, vol. 2(3), pages 189-210, December.
  9. Bayona, Anna & Brandts, Jordi & Vives, Xavier, 2020. "Information frictions and market power: A laboratory study," Games and Economic Behavior, Elsevier, vol. 122(C), pages 354-369.
  10. Holmberg, Pär & Newbery, David, 2010. "The supply function equilibrium and its policy implications for wholesale electricity auctions," Utilities Policy, Elsevier, vol. 18(4), pages 209-226, December.
  11. Jordi Brandts & Stanley S. Reynolds & Arthur Schram, 2014. "Pivotal Suppliers and Market Power in Experimental Supply Function Competition," Economic Journal, Royal Economic Society, vol. 124(579), pages 887-916, September.
  12. Denis Claude & Mabel Tidball, 2022. "Taking firms’ margin targets seriously in a model of competition in supply functions," Working Papers hal-03548797, HAL.
  13. Löschenbrand, Markus, 2021. "Modeling competition of virtual power plants via deep learning," Energy, Elsevier, vol. 214(C).
  14. Edward J. Anderson & Xinmin Hu, 2008. "Finding Supply Function Equilibria with Asymmetric Firms," Operations Research, INFORMS, vol. 56(3), pages 697-711, June.
  15. David P. Brown & Andrew Eckert, 2018. "Analyzing the Impact of Electricity Market Structure Changes and Mergers: The Importance of Forward Commitments," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 52(1), pages 101-137, February.
  16. Denis Claude & Mabel Tidball, 2024. "Taking firms' margin targets seriously in a model of competition in supply functions," Post-Print hal-04743649, HAL.
  17. Robert Wilson, 2008. "Supply Function Equilibrium in a Constrained Transmission System," Operations Research, INFORMS, vol. 56(2), pages 369-382, April.
  18. Vives, Xavier & Bayona, Anna & Brandts, Jordi, 2016. "Supply Function Competition, Private Information, and Market Power: A Laboratory Study," IESE Research Papers D/1146, IESE Business School.
  19. Willems, Bert & Rumiantseva, Ina & Weigt, Hannes, 2009. "Cournot versus Supply Functions: What does the data tell us?," Energy Economics, Elsevier, vol. 31(1), pages 38-47, January.
  20. Daron Acemoglu & Ali Kakhbod & Asuman Ozdaglar, 2017. "Competition in Electricity Markets with Renewable Energy Sources," The Energy Journal, , vol. 38(1_suppl), pages 137-156, June.
  21. Delbono, Flavio & Lambertini, Luca, 2018. "Choosing roles under supply function competition," Energy Economics, Elsevier, vol. 71(C), pages 83-88.
  22. Holmberg, Pär, 2009. "Numerical calculation of an asymmetric supply function equilibrium with capacity constraints," European Journal of Operational Research, Elsevier, vol. 199(1), pages 285-295, November.
  23. Ali Hortacsu & Steven L. Puller, 2005. "Understanding Strategic Bidding in Restructured Electricity Markets: A Case Study of ERCOT," NBER Working Papers 11123, National Bureau of Economic Research, Inc.
  24. Ciarreta, Aitor & Nasirov, Shahriyar & Silva, Carlos, 2016. "The development of market power in the Spanish power generation sector: Perspectives after market liberalization," Energy Policy, Elsevier, vol. 96(C), pages 700-710.
  25. David Pozo & Enzo Sauma & Javier Contreras, 2017. "Basic theoretical foundations and insights on bilevel models and their applications to power systems," Annals of Operations Research, Springer, vol. 254(1), pages 303-334, July.
  26. Holmberg, Pär & Newbery, David & Ralph, Daniel, 2013. "Supply function equilibria: Step functions and continuous representations," Journal of Economic Theory, Elsevier, vol. 148(4), pages 1509-1551.
  27. Aitor Ciarreta & María Espinosa, 2010. "Market power in the Spanish electricity auction," Journal of Regulatory Economics, Springer, vol. 37(1), pages 42-69, February.
  28. Kamiński, Jacek, 2011. "Market power in a coal-based power generation sector: The case of Poland," Energy, Elsevier, vol. 36(11), pages 6634-6644.
  29. Magdalena Weglarz & Agnieszka Wylomanska, 2010. "Optimal bidding strategies on the power market based on the stochastic models," HSC Research Reports HSC/10/06, Hugo Steinhaus Center, Wroclaw University of Science and Technology.
  30. Ioannis Kordonis & Alexandros C. Charalampidis & George P. Papavassilopoulos, 2018. "Pretending in Dynamic Games, Alternative Outcomes and Application to Electricity Markets," Dynamic Games and Applications, Springer, vol. 8(4), pages 844-873, December.
  31. Bolle, Friedel & Grimm, Veronika & Ockenfels, Axel & del Pozo, Xavier, 2013. "An experiment on supply function competition," European Economic Review, Elsevier, vol. 63(C), pages 170-185.
  32. Pio Baake & Sebastian Schwenen & Christian von Hirschhausen, 2020. "Local Power Markets," Discussion Papers of DIW Berlin 1904, DIW Berlin, German Institute for Economic Research.
  33. Anette Boom & Sebastian Schwenen, 2021. "Is real-time pricing smart for consumers?," Journal of Regulatory Economics, Springer, vol. 60(2), pages 193-213, December.
  34. Razeghi, Ghazal & Brouwer, Jack & Samuelsen, Scott, 2016. "A spatially and temporally resolved model of the electricity grid – Economic vs environmental dispatch," Applied Energy, Elsevier, vol. 178(C), pages 540-556.
  35. Jean-Luc Gaffard & Mauro Napoletano, 2012. "Agent-based models and economic policy," SciencePo Working papers Main hal-03461120, HAL.
  36. 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.
  37. Ramteen Sioshansi & Shmuel Oren, 2007. "How good are supply function equilibrium models: an empirical analysis of the ERCOT balancing market," Journal of Regulatory Economics, Springer, vol. 31(1), pages 1-35, February.
  38. Crawford, Gregory S. & Crespo, Joseph & Tauchen, Helen, 2007. "Bidding asymmetries in multi-unit auctions: Implications of bid function equilibria in the British spot market for electricity," International Journal of Industrial Organization, Elsevier, vol. 25(6), pages 1233-1268, December.
  39. Fernández, Mauricio & Muñoz, Francisco D. & Moreno, Rodrigo, 2020. "Analysis of imperfect competition in natural gas supply contracts for electric power generation: A closed-loop approach," Energy Economics, Elsevier, vol. 87(C).
  40. repec:hal:spmain:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  41. Eric Guerci & Stefano Ivaldi & Silvano Cincotti, 2008. "Learning Agents in an Artificial Power Exchange: Tacit Collusion, Market Power and Efficiency of Two Double-auction Mechanisms," Computational Economics, Springer;Society for Computational Economics, vol. 32(1), pages 73-98, September.
  42. repec:spo:wpmain:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  43. Ali Hortaçsu & Steven L. Puller, 2008. "Understanding strategic bidding in multi‐unit auctions: a case study of the Texas electricity spot market," RAND Journal of Economics, RAND Corporation, vol. 39(1), pages 86-114, March.
  44. Knittel, Christopher R & Metaxoglou, Konstantinos, 2008. "Diagnosing Unilateral Market Power in Electricity Reserves Market," Institute of Transportation Studies, Working Paper Series qt14q6c0mk, Institute of Transportation Studies, UC Davis.
  45. Ollikka, Kimmo, 2014. "Essays on auction mechanisms and information in regulating pollution," Research Reports P66, VATT Institute for Economic Research.
  46. Weron, Rafał, 2014. "Electricity price forecasting: A review of the state-of-the-art with a look into the future," International Journal of Forecasting, Elsevier, vol. 30(4), pages 1030-1081.
  47. José R. Correa & Nicolás Figueroa & Nicolás E. Stier-Moses, 2008. "Pricing with markups in industries with increasing marginal costs," Documentos de Trabajo 256, Centro de Economía Aplicada, Universidad de Chile.
  48. Wang, Lizhi & Mazumdar, Mainak & Bailey, Matthew D. & Valenzuela, Jorge, 2007. "Oligopoly models for market price of electricity under demand uncertainty and unit reliability," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1309-1321, September.
  49. Genc, Talat S. & Reynolds, Stanley S., 2011. "Supply function equilibria with capacity constraints and pivotal suppliers," International Journal of Industrial Organization, Elsevier, vol. 29(4), pages 432-442, July.
  50. Magdalena Borgosz-Koczwara & Aleksander Weron & Agnieszka Wyłomańska, 2009. "Stochastic models for bidding strategies on oligopoly electricity market," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 69(3), pages 579-592, July.
  51. repec:spo:wpecon:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  52. Ciarreta, Aitor & Espinosa, Maria Paz & Pizarro-Irizar, Cristina, 2017. "Optimal regulation of renewable energy: A comparison of Feed-in Tariffs and Tradable Green Certificates in the Spanish electricity system," Energy Economics, Elsevier, vol. 67(C), pages 387-399.
  53. Jalali, Mohammad Majid & Kazemi, Ahad, 2015. "Demand side management in a smart grid with multiple electricity suppliers," Energy, Elsevier, vol. 81(C), pages 766-776.
  54. Corina Haita-Falah, 2016. "Uncertainty and speculators in an auction for emissions permits," Journal of Regulatory Economics, Springer, vol. 49(3), pages 315-343, June.
  55. Kamiński, Jacek, 2014. "A blocked takeover in the Polish power sector: A model-based analysis," Energy Policy, Elsevier, vol. 66(C), pages 42-52.
  56. Holmberg, Pär, 2005. "Asymmetric Supply Function Equilibrium with Constant Marginal Costs," Working Paper Series 2005:16, Uppsala University, Department of Economics.
  57. Ollikka, Kimmo, 2014. "Essays on auction mechanisms and information in regulating pollution," Research Reports 66, VATT Institute for Economic Research.
  58. Zugang Liu & Anna Nagurney, 2009. "An integrated electric power supply chain and fuel market network framework: Theoretical modeling with empirical analysis for New England," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(7), pages 600-624, October.
  59. Mestre, Guillermo & Sánchez-Úbeda, Eugenio F. & Muñoz San Roque, Antonio & Alonso, Estrella, 2022. "The arithmetic of stepwise offer curves," Energy, Elsevier, vol. 239(PE).
  60. David Newbery, 2008. "Analytic Solutions for Supply Function Equilibria: Uniqueness and Stability," Working Papers EPRG 0824, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
  61. Victor Avramov, 2020. "Modeling the competition on the electricity stock market," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 65-79.
  62. Ramesh Johari & John N. Tsitsiklis, 2011. "Parameterized Supply Function Bidding: Equilibrium and Efficiency," Operations Research, INFORMS, vol. 59(5), pages 1079-1089, October.
  63. Andreas Hefti & Peiyao Shen & Regina Betz, 2019. "Market power and information effects in a multi-unit auction," ECON - Working Papers 320, Department of Economics - University of Zurich.
  64. Michal Król, 2012. "‘Everything must go!’- Cournot as a Stable Convention within Strategic Supply Function Competition," Economics Discussion Paper Series 1217, Economics, The University of Manchester.
  65. Ehsani, Behdad & Pineau, Pierre-Olivier & Charlin, Laurent, 2024. "Price forecasting in the Ontario electricity market via TriConvGRU hybrid model: Univariate vs. multivariate frameworks," Applied Energy, Elsevier, vol. 359(C).
  66. Aitor Ciarreta & Carlos Gutiérrez-Hita, 2012. "Collusive behaviour under cost asymmetries when firms compete in supply functions," Journal of Economics, Springer, vol. 106(3), pages 195-219, July.
  67. David P. Brown & Andrew Eckert & Douglas Silveira, 2023. "Strategic interaction between wholesale and ancillary service markets," Competition and Regulation in Network Industries, , vol. 24(4), pages 174-198, December.
  68. Juan Aparicio & Juan Ferrando & Ana Meca & Julia Sancho, 2008. "Strategic bidding in continuous electricity auctions: an application to the Spanish electricity market," Annals of Operations Research, Springer, vol. 158(1), pages 229-241, February.
  69. Laha, Priyanka & Chakraborty, Basab, 2017. "Energy model – A tool for preventing energy dysfunction," Renewable and Sustainable Energy Reviews, Elsevier, vol. 73(C), pages 95-114.
  70. Brown, David P. & Eckert, Andrew & Silveira, Douglas, 2023. "Screening for Collusion in Wholesale Electricity Markets: A Review of the Literature," Working Papers 2023-7, University of Alberta, Department of Economics.
  71. Mariola Ndrio & Khaled Alshehri & Subhonmesh Bose, 2020. "A Scalar Parameterized Mechanism for Two-Sided Markets," Papers 2003.01206, arXiv.org.
  72. Komain Jiranyakul, 2015. "Oil Price Volatility and Real Effective Exchange Rate: The Case of Thailand," International Journal of Energy Economics and Policy, Econjournals, vol. 5(2), pages 574-579.
  73. Wölfing, Nikolas, 2008. "Asymmetric Price Transmission in Supply Function Equilibrium, Carbon Prices and the German Electricity Spot Market," ZEW Discussion Papers 08-040, ZEW - Leibniz Centre for European Economic Research.
  74. Victor Moutinho & Ant nio Carrizo Moreira & Jorge H. Mota, 2015. "Measuring the Simultaneous Quantity Game in OMEL Spot Electricity Market," International Journal of Energy Economics and Policy, Econjournals, vol. 5(1), pages 305-320.
  75. Hunt Allcott, 2012. "The Smart Grid, Entry, and Imperfect Competition in Electricity Markets," NBER Working Papers 18071, National Bureau of Economic Research, Inc.
  76. Tanaka, Makoto, 2006. "Real-time pricing with ramping costs: A new approach to managing a steep change in electricity demand," Energy Policy, Elsevier, vol. 34(18), pages 3634-3643, December.
  77. Nilsson, Mats, 2005. "Electric power oligopoly and suspicious minds--a critique of a recently approved merger," Energy Policy, Elsevier, vol. 33(15), pages 2023-2036, October.
  78. Ayzenberg, N. & Kiseleva, N. & Zorkaltsev, V., 2013. "Models of Imperfect Competition in Analysis of Siberian Electricity Market," Journal of the New Economic Association, New Economic Association, vol. 18(2), pages 62-88.
  79. Conleigh Byers & Brent Eldridge, 2022. "Auction designs to increase incentive compatibility and reduce self-scheduling in electricity markets," Papers 2212.10234, arXiv.org, revised Oct 2024.
  80. Moutinho, Victor & Moreira, António C. & Mota, Jorge, 2014. "Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market," Energy Policy, Elsevier, vol. 68(C), pages 403-412.
  81. Edward Anderson & Huifu Xu, 2006. "Optimal Supply Functions in Electricity Markets with Option Contracts and Non-smooth Costs," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 63(3), pages 387-411, July.
  82. Tsitsiklis, John N. & Xu, Yunjian, 2015. "Pricing of fluctuations in electricity markets," European Journal of Operational Research, Elsevier, vol. 246(1), pages 199-208.
  83. repec:hal:wpspec:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  84. Bustos-Salvagno, Javier, 2015. "Bidding behavior in the Chilean electricity market," Energy Economics, Elsevier, vol. 51(C), pages 288-299.
  85. Pizarro-Irizar, Cristina, 2023. "Is it all about supply? Demand-side effects on the Spanish electricity market following Covid-19 lockdown policies," Utilities Policy, Elsevier, vol. 80(C).
  86. Javad Khazaei & Golbon Zakeri & Shmuel S. Oren, 2017. "Single and Multisettlement Approaches to Market Clearing Under Demand Uncertainty," Operations Research, INFORMS, vol. 65(5), pages 1147-1164, October.
  87. Li, Gong & Shi, Jing & Qu, Xiuli, 2011. "Modeling methods for GenCo bidding strategy optimization in the liberalized electricity spot market–A state-of-the-art review," Energy, Elsevier, vol. 36(8), pages 4686-4700.
  88. Yoo, Tae-Hyun & Ko, Woong & Rhee, Chang-Ho & Park, Jong-Keun, 2017. "The incentive announcement effect of demand response on market power mitigation in the electricity market," Renewable and Sustainable Energy Reviews, Elsevier, vol. 76(C), pages 545-554.
  89. Genc, Talat S., 2024. "Energy Transition and the role of new natural gas turbines for power production: The case of GT11N2 M generators," Energy Economics, Elsevier, vol. 131(C).
  90. Reihani, Ehsan & Motalleb, Mahdi & Thornton, Matsu & Ghorbani, Reza, 2016. "A novel approach using flexible scheduling and aggregation to optimize demand response in the developing interactive grid market architecture," Applied Energy, Elsevier, vol. 183(C), pages 445-455.
  91. Kenneth Hendricks & R. Preston Mcafee, 2010. "A Theory Of Bilateral Oligopoly," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 391-414, April.
  92. E. J. Anderson & T. D. H. Cau, 2009. "Modeling Implicit Collusion Using Coevolution," Operations Research, INFORMS, vol. 57(2), pages 439-455, April.
  93. Brown, David P. & Eckert, Andrew & Silveira, Douglas, 2023. "Screening for collusion in wholesale electricity markets: A literature review," Utilities Policy, Elsevier, vol. 85(C).
  94. E. Anderson & A. Philpott & H. Xu, 2007. "Modelling the effects of interconnection between electricity markets subject to uncertainty," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 65(1), pages 1-26, February.
  95. Keita Yamane, 2018. "Mixed duopoly and the indirect effect in linear supply function competition," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 45(4), pages 519-532, December.
  96. Sapio, Alessandro & Spagnolo, Nicola, 2016. "Price regimes in an energy island: Tacit collusion vs. cost and network explanations," Energy Economics, Elsevier, vol. 55(C), pages 157-172.
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