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...

We show uniform, linear prices in power exchange markets, such as in the Amsterdam Power Exchange (APX) DayAhead market or the Nord Pool Elspot market, that allow nonconvex, “fill or kill” block bids by market participants may not result in an equilibrium in an economic sense, nor do they maximize surplus to market participants. We propose, as an alternative, a multi-part, discriminatory pricin...

abstract in agriculture, there is a lag between planting decision and supplying the produced commodity to the market. this makes the marketed commodities as predetermined variables and prices as market clearing factor. under such a condition, the inverse demand function in which price is a function of quantity is an appropriate tool for forecasting price responses to the injected quantities to ...

rice production in most of asian countries has been increased more rapidly than population and this has been led to increase in supply and proportionately decrease in the real price of rice in world and domestic markets. furthermore, together with growth in production and national gross income of the country per-capita income has been increased and also demand for rice at national and internati...

Organized trading for electricity includes both the pool and the futures market. Pool prices are volatile while the prices of the futures-market products are comparatively more stable. Thus, futures-market products constitute hedging instruments to reduce the risk suffered by any market agent. Electricity market agents engage in both pool and futures market transactions seeking to maximize thei...

While the relationship between stock market return and oil price is of great interest to researchers, previous studies do not investigate stock market return with petrochemical products market. In this paper, we analyzed the relationship between prices of main petrochemical products and stock returns of petrochemical companies in Tehran stock exchange. Using a panel data model and GLS estimatio...

this paper examines the causal relationship between stock prices and macroeconomic aggregates in iran, by applying the techniques of the long–run granger non–causality test proposed by toda and yamamoto (1995). we test the causal relationships between the tepix index and the three macroeconomic variables: money supply, value of trade balance, and industrial production using quarterly data for t...

In view of the importance of the meat imports and the exports of meat in Iran, this study focuses on the status of the global market of meat imports the unit price test in these markets between the years 1961 and 2011 using the market cointegration approach. The results of this study are indicative of prices co-integration in the international market of meat as well as among such major importer...

Today topic is market equilibrium. The basic elements of a market are buyers and product (and there are also potentially sellers). The goal is to nd prices that clear the market. Namely, under those prices every product is completely sold, and there is no remaining demand. In other words, we would like to achieve a state where demand equals supply. This is probably one of the most important con...

Economic models of land allocation may lead to expectations for farmer response that “surprisingly" do not materialize, if market prices fail to reflect the value of farmers' product. “Shadow prices" rather than market prices explain resource allocation better for farmers who attach significant non-market values to their own crops. I extend the theoretical model in Arslan and Taylor (2008) to e...