Price Integration in Wholesale Maize Markets in Pakistan

Market Integration in Wholesale Rice Markets in India

This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 – December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration is far from complete in India and a major reason for this is the excessive interference in rice market...

Equilibrium in Wholesale Electricity Markets

We develop game theoretic models to evaluate strategic behavior in deregulated electricity markets, with particular attention given to the market rules in place in California through the summer of 2000. We prove existence of a Nash equilibrium under two particular sets of market rules used by the CALPX and CAISO respectively. Next we derive a lower bound (strictly above marginal cost) on averag...

Wholesale Markets in African Cities

Stochastic Optimization of Demand Response Aggregators in Wholesale Electricity Markets

This paper proposes a stochastic framework for demand response (DR) aggregator to procure DR from customers and sell it to purchasers in the wholesale electricity market. The aggregator assigns fixed DR contracts with customers based on three different load reduction strategies. In the presented problem the uncertainty of market price is considered and the risk of aggregator participation is ma...

Vertical price leadership on local maize markets in Benin

This paper considers vertical price relationships between wholesalers and retailers on five local maize markets in Benin. We show that if the common factor and the long-run disequilibrium error are not explicitly taken into account in testing the channel model, one can easily be wrong about how restrictions on the error-correction structure must be interpreted in terms of economic power in the ...