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

2015-05-27

Authors

Balat, Jorge
Carranza, Juan Esteban
Martin, Juan D.

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Document language

spa
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

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

Description

JEL Codes

L25 - Firm Performance: Size, Diversification, and Scope
D22 - Firm Behavior: Empirical Analysis
D44 - Auctions

Temática

Keywords

Keywords

Dynamic auction model , Bidding behavior , Market power , Electricity markets

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6175
 https://hdl.handle.net/20.500.12134/6175
 https://ideas.repec.org/p/bdr/borrec/886.html
 https://doi.org/10.32468/be.886

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