| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4590 |
| DP4590 Bilateral Market Power and Vertical Integration in the Spanish Electricity Spot Market | |
| Kai-Uwe Kühn; Matilde Machado | |
| 发表日期 | 2004-09-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | The Spanish electricity spot market is highly concentrated both on the seller and the buyer side. Furthermore, unlike electricity spot markets in other deregulated electricity systems, large buyers and sellers are typically vertically integrated. This allows both large net sellers and large net buyers to strategically influence the spot market price. We develop a supply function model of this market to analyse the impact of market power on prices and productive efficiency and use it empiricially to detect such bilateral market power. Our estimates suggest that market power has had little impact on spot market prices but that substantial productive inefficiencies may have arisen from the exercise of bilateral market power. |
| 主题 | Industrial Organization |
| 关键词 | Market power test Vertical integration Bilateral market power Electricity markets Supply function equilibirum |
| URL | https://cepr.org/publications/dp4590 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533511 |
| 推荐引用方式 GB/T 7714 | Kai-Uwe Kühn,Matilde Machado. DP4590 Bilateral Market Power and Vertical Integration in the Spanish Electricity Spot Market. 2004. |
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