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Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond

Alfred Kahn, Peter Cramton (), Robert Porter and Richard D. Tabors ()

Papers of Peter Cramton from University of Maryland, Department of Economics - Peter Cramton

Abstract: Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.

Keywords: Auctions; Electricity Auctions; Multiple Item Auctions (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2001-01-27, Revised 2001-01-27
New Economics Papers: this item is included in nep-gth, nep-mic and nep-reg
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Citations: View citations in EconPapers (28) Track citations by RSS feed

Published in Electricity Journal, 70-79, July 2001

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