منابع مشابه
Supply Function Equilibrium: Theory and Applications
The paper deals with the Supply Function Equilibrium (SFE) as a model of competition in electricity markets. It introduces theoretical advancement through relaxing traditional assumptions of continuity of supply functions and provides a foundation for efficient computational algorithms. Special emphasis is placed on exploring the existence of equilibria and on the players’ ability to learn subj...
متن کاملUnique Supply Function Equilibrium with Capacity Constraints
Consider a market where producers submit supply functions to a procurement auction — e.g. an electric power auction — under uncertainty, before demand has been realized. In the Supply Function Equilibrium (SFE), every firm commits to the supply function maximizing his expected profit given the supply functions of the competitors. The presence of multiple equilibria is one basic weakness of SFE....
متن کاملSupply Function Equilibrium with Taxed Benefits
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متن کاملParameterized Supply Function Bidding: Equilibrium and Efficiency
We consider a model where a finite number of producers compete to meet an infinitely divisible but inelastic demand for a product. Each firm is characterized by a production cost that is convex in the output produced, and firms act as profit maximizers. We consider a uniform price market design that uses supply function bidding: firms declare the amount they would supply at any positive price, ...
متن کاملParameterized Supply Function Bidding: Equilibrium and Welfare
We consider a model where a finite number of producers compete to meet an infinitely divisible but inelastic demand for a product. Each firm is characterized by a production cost that is convex in the output produced, and firms act as profit maximizers. We consider a uniform price market design that uses supply function bidding (Klemperer and Meyer 1989): firms declare the amount they would sup...
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ژورنال
عنوان ژورنال: Economics
سال: 2015
ISSN: 1864-6042
DOI: 10.5018/economics-ejournal.ja.2015-5