This paper presents one comprehensive modelling approach for maintenance scheduling problem of thermal power units in competitive market. This problem is formulated as a 0/1 mixedinteger linear programming model. Model incorporates long-term bilateral contracts with defined profiles of power and price, and weekly forecasted market prices for market auction. The effectiveness of the proposed mod...

In [1] the use of VCG in matching markets is motivated by saying that in order to compute market clearing prices in a matching market, the auctioneer needs to know the true valuations of the bidders. Hence VCG and corresponding personalized prices are proposed as an incentive compatible mechanism. The same line of argument pops up in several lecture sheets and other documents related to courses...

Logging contract systems are in need of change—they are leading to environmentally destructive exploitation and poor returns to landowners. The reaction has been to ban logging, thus giving subsidies to domestic timber processing industries. Export taxes are an inefficient and inequitable means of timber revenue distribution. The logging contract needs to be changed to allow landowners and gove...

Broadly speaking, interventions to reduce the costs associated with price volatility can be divided into two types. First, there are interventions that reduce price volatility, such as improving market information (Box 7). Second, there are interventions that accept price volatility as given and attempt to cope with it. These coping mechanisms can be either before (ex ante) or after (ex post) t...