search query: @author Wolfram, C. D. / total: 2
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| Author: | Wolfram, C. D. |
| Title: | Strategic bidding in a multiunit auction: an empirical analysis of bids to supply electricity in England and Wales. |
| Journal: | RAND Journal of Economics
1998 : WIN, VOL. 29:4, p. 703-725 |
| Index terms: | Auctions Electricity supply industry Market conditions |
| Language: | eng |
| Abstract: | The article considers the bids submitted in the daily electricity auction in England and Wales. The author examines manifestations of strategic bidding. The evidence suggests that the companies increase their bids to raise the price they are paid for inframarginal capacity. Plants that are likely to be used after other plants are already operating bid more. The larger supplier submits higher bids for similar plants. Bids for a given plant are slightly higher on days when more of the capacity that is typically inframeginal to that plant is available. |
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