Competition in cascades

Detalhes bibliográficos
Autor(a) principal: Moita, Rodrigo Menon Simões
Data de Publicação: 2017
Outros Autores: Monte, Daniel
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/18627
Resumo: Hydroelectric generation is the main source of energy production in many countries. When firms operate in the same river, or in cascades, the output of an upstream firm is the input of its downstream rival. We build a dynamic stochastic duopoly model of competition in cascades and show that the decentralized market is efficient at the critical times when rain is infrequent, but inefficient when rain is more frequent. Market power is an issue when peak prices are sufficiently higher than off-peak prices: Upstream firms delay production in off-peak times, limiting their rival downstream generators' production in peak times.
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spelling Moita, Rodrigo Menon SimõesMonte, DanielEscolas::EESP2017-08-09T13:32:11Z2017-08-09T13:32:11Z2017TD 456http://hdl.handle.net/10438/18627Hydroelectric generation is the main source of energy production in many countries. When firms operate in the same river, or in cascades, the output of an upstream firm is the input of its downstream rival. We build a dynamic stochastic duopoly model of competition in cascades and show that the decentralized market is efficient at the critical times when rain is infrequent, but inefficient when rain is more frequent. Market power is an issue when peak prices are sufficiently higher than off-peak prices: Upstream firms delay production in off-peak times, limiting their rival downstream generators' production in peak times.engEESP - Textos para Discussão;TD 456Electricity marketsDynamic gamesHydroelectric generationEconomiaEnergia elétrica - ProduçãoUsinas hidrelétricasEconomia - Modelos matemáticosCompetition in cascadesinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXTTD 456_Moita_Monte.pdf.txtTD 456_Moita_Monte.pdf.txtExtracted texttext/plain42860https://repositorio.fgv.br/bitstreams/9368db97-87c0-4ddc-94c8-5daf5165320c/download25d9ec55384cc85f05b0d94ce8dafc71MD55ORIGINALTD 456_Moita_Monte.pdfTD 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dc.title.eng.fl_str_mv Competition in cascades
title Competition in cascades
spellingShingle Competition in cascades
Moita, Rodrigo Menon Simões
Electricity markets
Dynamic games
Hydroelectric generation
Economia
Energia elétrica - Produção
Usinas hidrelétricas
Economia - Modelos matemáticos
title_short Competition in cascades
title_full Competition in cascades
title_fullStr Competition in cascades
title_full_unstemmed Competition in cascades
title_sort Competition in cascades
author Moita, Rodrigo Menon Simões
author_facet Moita, Rodrigo Menon Simões
Monte, Daniel
author_role author
author2 Monte, Daniel
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.author.fl_str_mv Moita, Rodrigo Menon Simões
Monte, Daniel
dc.subject.eng.fl_str_mv Electricity markets
Dynamic games
Hydroelectric generation
topic Electricity markets
Dynamic games
Hydroelectric generation
Economia
Energia elétrica - Produção
Usinas hidrelétricas
Economia - Modelos matemáticos
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Energia elétrica - Produção
Usinas hidrelétricas
Economia - Modelos matemáticos
description Hydroelectric generation is the main source of energy production in many countries. When firms operate in the same river, or in cascades, the output of an upstream firm is the input of its downstream rival. We build a dynamic stochastic duopoly model of competition in cascades and show that the decentralized market is efficient at the critical times when rain is infrequent, but inefficient when rain is more frequent. Market power is an issue when peak prices are sufficiently higher than off-peak prices: Upstream firms delay production in off-peak times, limiting their rival downstream generators' production in peak times.
publishDate 2017
dc.date.accessioned.fl_str_mv 2017-08-09T13:32:11Z
dc.date.available.fl_str_mv 2017-08-09T13:32:11Z
dc.date.issued.fl_str_mv 2017
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/18627
dc.identifier.sici.none.fl_str_mv TD 456
identifier_str_mv TD 456
url http://hdl.handle.net/10438/18627
dc.language.iso.fl_str_mv eng
language eng
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