Do Current Power and Future Risk Cause Future Power and Current Risk?

Gabriel Fiuza de Bragança

No 373504, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation

Abstract: Little is known about the relationship between risk and market power in electricity markets. It's widely agreed that the expansion of forward markets decreases market power in concentrated electricity industries, and that this increases social welfare. However, such one-way causality tells only half the story. Gabriel Fiuza de Bragança finds that market-power indicators such as the Lerner Index may be telling us something different from what we thought they were.

Date: 2012-03-01
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcrt:373504

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