Dynamic and strategic behavior in hydropower-dominated electricity markets : empirical evidence for Colombia

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Borradores de Economía; No. 886
Date published
2015-05-27
Date of last update
2015-05-27
Author
Balat, Jorge
Carranza, Juan Esteban
Martin, Juan D.
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
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
JEL Codes
L25 - Firm Performance: Size, Diversification, and ScopeD22 - Firm Behavior: Empirical AnalysisD44 - Auctions
Keywords
Dynamic auction model ; Bidding behavior ; Market power ; Electricity markets ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6175
https://hdl.handle.net/20.500.12134/6175
https://doi.org/10.32468/be.886
https://ideas.repec.org/p/bdr/borrec/886.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit