This paper seeks to examine the competitive behavior of the Brazilian banking industry by conducting an analysis at the level of individual banks to gain an understanding of how the risk-taking behaviors of banks are affected by their degree of market power. Our results suggest that the Brazilian banking industry is characterized by monopolistic competition. Our foremost finding is that the mar...

This article proposes a two-stage oligopoly model for the crude oil market. In a game of several Stackelberg leaders, market power increases endogenously as the spare capacity of the competitive fringe goes down. This effect is due to the specific cost function characteristics of extractive industries. The model captures the increase of OPEC market power before the financial crisis and its dras...

The electric power sector is facing comprehensive changes reflected in the reorganization of entire market, economic relations management and technical technological functioning companies. are fact a consequence various restructuring processes sector, which parallelly unfolding depending on course dynamics structural reforms implementation. In industry, these primarily involve liberalization, n...

This paper represents a complete survey on Generation Companies’ (GenCos’) optimal bidding strategy problem in restructured power markets. In this regard after an introduction to competitive electricity markets, concept of optimal bidding strategy is presented. Considering large amount of works accomplished in this area a novel classification is implemented in order to categorize the existing d...

Conventional wisdom suggests that competitive wholesale electricity markets are not feasible in most developing countries. However, systematic analyses of the feasibility of wholesale competition in a specific developing country are rare. I model a potential wholesale electricity market in Maharashtra (MH) state, India in a Cournot framework to analyze the circumstances under which it could be ...

Creating successful competitive electric power markets requires transmission pricing reform. Due to the physics of power transmission networks, efficient transmission prices must incorporate two types of loop flow externalities, and must be determined jointly with efficient power (nodal) prices. Prior proposed market schemes all involve an approximation to the efficient prices. I propose a real...

This paper proposes an index for nodal market power detection in power market under locational marginal pricing (LMP). This index is an ex-ante technique to detect the market power. More precisely, this criterion detects the potential of exercising market power regardless of detecting the actual market power. Also it is obvious that pricing and market clearing method affect the potential of exe...