A Comparison of Pay-As-Bid and Market-Clearing Price Bidding Processes in Electric Utility Auctions

被引：1
|
作者：
Berry, Keith [1 ]
机构：
[1] Hendrix Coll, Econ & Business, Conway, AR 72032 USA
来源：
MANAGERIAL AND DECISION ECONOMICS | 2014年 / 35卷 / 04期
关键词：
D O I：
10.1002/mde.2612
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
As the electric utility industry moves to Regional Transmission Organizations, there are more opportunities for merchant plants in selling wholesale energy to electric utilities. Two alternative bidding regimes are considered: (i) pay-as-bid and (ii) pay with market-clearing bid. With stochastic price-sensitive demand, we show that pay-as-bid has greater average price, but lower price variance than does market-clearing price. Copyright (C) 2013 John Wiley & Sons, Ltd.
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页码：258 / 263
页数：6
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