This paper uses support vector machines (SVM) based learning algorithm to select important variables that help explain the realtime peak electricity price in the Ontario market. The Ontario market was opened to competition only in May 2002. Due to the limited number of observations available, finding a set of variables that can explain the independent power market of Ontario (IMO) real-time pea...

1 Abstract In this paper, we combine a fairly complex system dynamics model of the Nord Pool power market with stochastic price models from financial economics. The idea is to combine the fundamental relationships (given by the system dynamics model) with a good representation of stochasticity from stochastic price models. The purpose is to provide long-term price prognoses for investment decis...

The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring all effects that take longer to materialize. Using a database that includes detailed information on the deposit rates of individual banks in local markets for differe...

We develop spatial competition a la Bertrand for barge shipping along a waterway. Equilibrium prices are derived for two variations. For each case, we …rst give the perfectly competitive benchmark (when all modes are priced at marginal cost) before introducing market power on the modes. The paper emphasizes strategic rivalry (and market power) in two dimensions, and, for tractability, we consid...

We study the relation between the number of firms and market power in experimental oligopolies. Price competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We present results of an experiment in which two, three and four identical firms repeatedly interact in this environment. Less collusion with more firms leads to lower average prices. With more th...

Hedonic house price models typically impose a constant price structure on housing characteristics throughout an entire market area. However, there is increasing evidence that the marginal prices of many important attributes vary over space, especially within large markets. In this paper, we compare two approaches to examine spatial heterogeneity in housing attribute prices within the Tucson, Ar...

-In this paper, an attempt has been made to establish a market mechanism for primary and secondary frequency regulation services in the restructured power system environment. The concept of elasticity of offer price and elasticity of offer quantity has been proposed. Such a design of offer structure helps the providers to respond to the system requirements based on the market price variations i...

prices of meat in the international and a nation's internal markets tend to be closely related to each other. this relation could be sometimes harmful and due to lagged responses, meat prices at the internal market would subsequently increase as input prices increase at either the internal or international market. price uncertainty and transmition are two important problems facing a nation...

Numerous academic studies examine equity risk premium predictability based on various macroeconomic variables and price and volume based variables from stock market. In this article, we extend the frontier of the set of predictors from macroeconomic variables and stock market variables to foreign exchange market variables due to various reasons. Firstly, foreign exchange market reflects various...