As a matter of course, power market uncertainties escalation is by product of power industry restructure on one hand and the unrivalled penetration of renewable energies on the other. Generally, the decision making process in such an uncertain environment faces with different risks. In addition, the performance of real power markets is very close to oligopoly markets, in which, some market play...

This paper addresses the following question: Does competition enhance efficiency in markets with quality uncertainty? Using the mechanism design methodology, we characterize the maximal achievable level of efficiency in such markets, and then use this characterization to analyze how maximal efficiency varies with the degree of market competition. We show that the relationship between them is in...

In the past decade the market paradigm has been adopted as the prima facie candidate for achieving coordination between self-interested, autonomous software agents. In this context, the area of mechanism design has been increasingly applied in order to achieve desired global outcomes based on local interactions, by developing rules of interaction that align the individual needs with social desi...

in the market for factors of production usually the equilibrium will be stablished on the based of the equality between the value of marginal products of output and their relative price level. on the other hand the value of marginal product of output is a function of observed rate productivity of output and the market capacity of factors of production. thus the fluctuation in the rate of produc...

BACKGROUND Managed competition was introduced into the health care system in several countries including the Netherlands, although effects of competition of both providers and health insurers on the price of health care are inconclusive. We investigated the association between competition of both providers (care groups) and health insurers and the price of disease management programmes (DMPs). ...

OBJECTIVES The degrees of market competition usually influence providers' behaviors. This study investigated the influence of medical market competition on the utilization of dental care under the global budget payment system. This study also examined the relative factors that influence the utilization of dental care. METHODS This study used the healthcare sub-regions (HCSRs) in the healthcar...

‎Financial market modeling and prediction is a difficult problem and drastic changes of the price causes nonlinear dynamic that makes the price prediction one of the most challenging tasks for economists‎. ‎Since markets always have been interesting for traders‎, ‎many traders with various beliefs are highly active in a market‎. ‎The competition among two agents of traders‎, ‎namely trend follo...

Cournot competition, introduced in 1838 by Antoine Augustin Cournot, is a fundamental economic model that represents firms competing in a single market of a homogeneous good. Each firm tries to maximize its utility—naturally a function of the production cost as well as market price of the product—by deciding on the amount of production. This problem has been studied comprehensively in Economics...