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Regulation and the Leverage of Local Market Power in the California Electricity Market
Market Power Regulation
2015/7/31
Such generators possess ‘local’ monopoly power, and in deregulated settings have frequently
been able to extract significant rents from their advantageous locations within a power
system. Sinc...
Endogenous Participation and Local Market Power in Highway Procurement
Highway Procurement Endogenous Participation
2015/7/17
We use highway procurement data from Michigan to study the e§ect of
Örmsídistances to the auction site on participation and bidding decisions. Motivated
by ìreduced formî evidence, we acco...
We study the emergence of instabilities in a stylized model of a nancial market, when di erent market actors calculate prices according to di erent (local)
market measures. We derive typical propert...