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Priority Service: Pricing, Investment, and Market Organization
Hung-po Chao,Robert Wilson +1 more
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In this article, the seller rations supplies by serving customers in order of their selected priorities until the supply is exhausted or all customers are served, depending on the customer's selection of one contract from the menu.Abstract:
tingent forward delivery contracts offered by a seller Each customer's selection of one contract from the menu determines the customer's service order or priority In each contingency, the seller rations supplies by serving customers in order of their selected priorities until the supply is exhausted or all customers are served Various forms of priority service are widelyread more
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Economic resilience to natural and man-made disasters: Multidisciplinary origins and contextual dimensions
TL;DR: In this article, the authors distinguish static economic resilience (efficient allocation of existing resources) from dynamic economic resilience(speeding recovery through repair and reconstruction of the capital stock) and propose operational definitions that incorporate this important distinction.
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Lessons Learned From Electricity Market Liberalization
TL;DR: In this paper, the authors discuss the lessons learned from electricity sector liberalization over the last 20 years and identify the attributes of reform models that have exhibited good performance attributes, drawing on empirical analysis of market structure, behavior and performance in many countries.
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A market mechanism for electric power transmission
Hung-po Chao,Stephen C. Peck +1 more
TL;DR: In this paper, the authors present a new approach to the design of an efficient market mechanism for transmission access that resolves the externalities associated with the loop flow phenomenon in an electric power network, which constitutes a significant barrier to the formation of efficient markets for electricity and transmission services.
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Advance-Purchase Discounts and Price Discrimination in Competitive Markets
TL;DR: In this article, price-taking firms may offer advance-purchase discounts when both individual and aggregate consumer demand is uncertain and firms set prices before demand is known, and consumers with relatively more certain demands and with relatively lower valuations have an incentive to buy in advance the presence of other consumers with higher valuations.
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Journal ArticleDOI
Peak Load Pricing and Capacity Planning with Demand and Supply Uncertainty
TL;DR: In this article, the authors consider both uncertain demand and uncertain capacity simultaneously in a simple model and generalize earlier analyses, notably in two respects: first, they examine the demand uncertainty in a more general framework within which previous specifications of demand uncertainty can be seen as special cases.
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Responsive Pricing of Public Utility Services
TL;DR: In this article, the authors proposed a mechanism for privately owned utilities to maintain service capability at desirable levels through establishing fixed retention rates independent of the responsive rates, with revenues in excess of or below the retention rates being paid into or made up out of an escrow fund.
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The Economics of Alternative Levels of Reliability for Electric Power Generation Systems
TL;DR: In this article, a cost/benefit argument is presented for reducing the 1-day-in-10-year loss of load probability target reliability planning criterion to at least a 5-day in 10-year level.
Posted Content
Revenue Implications of Money Creation under Leviathan
TL;DR: In this paper, the authors examine both the revenue implications of money creation, and desirable consitutional restrictions on the money creation power within the context of a specific model of political processes.