Número:
886
Publicado:
Jorge Balat, 
Juan D. Martin Clasificación JEL:
L25, D22, D44
Palabras clave:
Dynamic Auction Model, Bidding Behavior, market power, Electricity Markets
Lo más reciente
Lukas Delgado-Prieto, Andrea Sofía Otero-Cortés, Andrés Calderón
Julián Andrés Parra-Polanía, Carmiña Ofelia Vargas-Riaño
In this paper we formulate a dynamic multi-unit auction model to characterize bidding behavior in hydro power dominated electricity markets. Our model implies that, in order to maximize expected profits, hydro producers will submit bid prices above its ma