EconPapers    
Economics at your fingertips  
 

Comparison of Auction Formats for Auctioning Wind Rights

Lawrence M. Ausubel () and Peter Cramton ()
Additional contact information
Lawrence M. Ausubel: Economics Department, University of Maryland, http://www.econ.umd.edu

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

Abstract: The best sites for offshore wind farms on the US Outer Continental Shelf are scarce. To make the best use of this scarce resource, it is necessary to implement a fair and efficient mechanism to assign leases to companies that are most likely to develop off-shore wind energy projects. Coastal states, particularly along the eastern seaboard, are taking aggressive actions to spur the growth of an offshore wind sector in their states to help meet their renewable portfolio targets while nurturing the supporting on-shore infrastructure. This paper compares the various auction formats described in “Auction Design for Wind Rights” (Ausubel and Cramton 2011a), and the multiple factor considerations documented in “Multiple Factor Auction Design for Wind Rights” (Ausubel and Cramton 2011b). The paper describes in further detail four different clock auction designs for auctioning these alternative energy leases and highlights considerations that should be factored into the auction rules.

Keywords: Auctions; clock auctions; spectrum auctions; market design; wind rights auctions (search for similar items in EconPapers)
JEL-codes: D44 C78 L96 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2012, Revised 2012
New Economics Papers: this item is included in nep-ene
References: View complete reference list from CitEc
Citations: Track citations by RSS feed

Published in Power Auctions Report for the Bureau of Ocean Energy Management, September 2011

Downloads: (external link)
http://www.cramton.umd.edu/papers2010-2014/ausubel ... nd-rights-paper3.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pcc:pccumd:11accw

Access Statistics for this paper

More papers in Papers of Peter Cramton from University of Maryland, Department of Economics - Peter Cramton Economics Department, University of Maryland, College Park, MD 20742-7211.
Bibliographic data for series maintained by Peter Cramton ().

 
Page updated 2020-01-18
Handle: RePEc:pcc:pccumd:11accw