Market Organization and Functional Efficiency
نویسندگان
چکیده
منابع مشابه
Market Organization and Efficiency in Electricity Markets
Electricity markets exhibit two different forms of organization: decentralized bilateral trading and centralized auction markets. Using detailed data on prices, quantities, and production costs, we examine how market outcomes changed when a large region in the Eastern US rapidly switched from a bilateral system of trade to an auction market design in 2004. Although economic theory yields ambigu...
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Electricity markets in the United States exhibit two different forms of organization: decentralized bilateral trading and centralized auction markets. Using detailed data on prices, quantities, and production costs, we examine how market outcomes changed when a large region in the Eastern US rapidly switched from a bilateral system of trade to a well-designed centralized auction market in 2004....
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ژورنال
عنوان ژورنال: Journal of Agricultural and Applied Economics
سال: 1969
ISSN: 1074-0708,2056-7405
DOI: 10.1017/s0081305200024286