in the restructured environment of electricity market, firstly the generating companies and the customers are looking for maximizing their profit and secondly independent system operator is looking for the stability of the power network and maximizing social welfare. in this paper, a one way auction in the electricity market for the generator companies is considered in both perfect and imperfec...

The theory of incomplete contracts has been recently questioned using or extending the subgame perfect implementation approach of Moore and Repullo (1988). We consider the robustness of this mechanism to the introduction of small amounts of asymmetric information. Our main result is that the mechanism may not yield (even approximately) truthful revelation as the amount of asymmetric information...