[PDF] Essays On Electricity And Matching Markets - eBooks Review

Essays On Electricity And Matching Markets


Essays On Electricity And Matching Markets
DOWNLOAD

Download Essays On Electricity And Matching Markets PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Essays On Electricity And Matching Markets book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page





Essays On Electricity And Matching Markets


Essays On Electricity And Matching Markets
DOWNLOAD
Author : Ömer Karaduman
language : en
Publisher:
Release Date : 2020

Essays On Electricity And Matching Markets written by Ömer Karaduman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.


This thesis contains two chapters on the Electricity Markets and a chapter on Matching Markets. In the first chapter, I study how an energy storage affects the wholesale electricity market. The transition to a low-carbon electricity system is likely to require grid-scale energy storage to smooth the variability and intermittency of renewable energy. I investigate whether private incentives for operating and investing in grid-scale energy storage are optimal and the need for policies that complement investments in renewables with encouraging energy storage. In a wholesale electricity market, energy storage systems generate profit by arbitraging inter-temporal electricity price differences. In addition, storage induces non-pecuniary externalities due to production efficiency and carbon emissions. I build a new dynamic equilibrium framework to quantify the effects of grid-scale energy storage and apply it to study the South Australian Electricity Market. This equilibrium framework computes a supply function equilibrium using estimated best responses from conventional sources to observed variation in the residual demand volatility. Accounting for storage’s effect on equilibrium prices is quantitatively important: previous methods that ignore this channel overestimate the profitability of operating a storage unit. The first set of results shows that although entering the electricity market is not profitable for privately operated storage, such entry would increase consumer surplus and total welfare and reduce emissions. A storage operator that minimizes the cost of acquiring electricity could further improve consumer surplus by twice as much. Importantly, a competitive storage market cannot achieve this outcome because other power plants distort prices. These results argue for a capacity market to compensate for a private firm for investing in storage. The second set of results shows that at moderate levels of renewable power, introducing grid-scale storage to the system reduces renewable generators’ revenue by decreasing average prices. For high levels of renewable generation capacity, storage increases the return to renewable production and decreases CO2 emissions by preventing curtailment during low-demand periods. In the second chapter, I study how a large scale wind power investment affects the wholesale electricity market. Renewable subsidies have been an influential device for wind power investment in many parts of the world. These policies help to lower emissions by offsetting high-emitting electricity generation with clean energy. For zero-emission targets, this transition towards renewable power should be accompanied by thermal generators’ retirement to set clean the energy mix in the power sector. In this paper, I build a framework to quantify the offset and revenue impact of large-scale wind power investment in a wholesale electricity market and apply it to study the South Australian Electricity Market. This equilibrium framework computes a supply function equilibrium using estimated best responses from conventional sources to observed variation in the residual demand volatility. I first show that reduced-form methods are biased as the scale of the additional capacity increases. My results highlight that with different investment sizes, the substitution patterns and negative revenue impact for wind power differ considerably. As the penetration level of wind power increases, the electricity becomes cheaper. The offset and negative shock shifts from low-cost inflexible generators to high-cost flexible generators, while the revenue impact is the highest on existing renewable generation. I also show quite a bit heterogeneity in price impact among different potential wind power projects. These results have some policy implications on renewable targets’ long-run effects and the project selection given the subsidy scheme. In the third chapter, joint with Nikhil Agarwal, Itai Ashlagi, Eduardo Azevedo and Clayton Featherstone, I study the market failure in kidney exchange. We show that kidney exchange markets suffer from market failures whose remedy could increase transplants by 30 to 63 percent. First, we document that the market is fragmented and inefficient; most transplants are arranged by hospitals instead of national platforms. Second, we propose a model to show two sources of inefficiency: hospitals only partly internalize their patientsâǍŹ benefits from exchange, and current platforms suboptimally reward hospitals for submitting patients and donors. Third, we calibrate a production function and show that individual hospitals operate below efficient scale. Eliminating this inefficiency requires either a mandate or a combination of new mechanisms and reimbursement reforms.



Essays In Electricity Economics


Essays In Electricity Economics
DOWNLOAD
Author : Brittany L. Tarufelli
language : en
Publisher:
Release Date : 2019

Essays In Electricity Economics written by Brittany L. Tarufelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Climatic changes categories.


Goods markets are designed and regulated at a sub-global level. Although it’s typical to assume one set of market clearing rules across regulated and unregulated regions, trade occurs across a patchwork of sub-global market designs. Not accounting for this heterogeneity in market design can lead to unanticipated outcomes from sub-global regulations, as correcting for one market failure–such as a negative externality from carbon emissions–can lead to another market failure from the market design itself when trade occurs across differing market designs. The anatomy of this second-best problem is considered in the context of U.S. electricity markets, as market clearing mechanisms vary by region, and they imperfectly overlap with state-level climate policies such as carbon prices and renewables subsidies. In Chapter I, I present a review of the theoretical and empirical literature on electricity market design and its interaction with regional climate policies. In the wholesale electricity sector, market design drives both the extent of the forward contract market and the competitiveness of the spot market, which can induce strategic behavior and affect both market and regional climate policy outcomes. Assessing climate policy outcomes under only the assumption of a centralized market design, as is customary in the literature, belies the complexity of electricity market design, which varies regionally. As there is currently an agenda to link regional electricity markets, there is also a need to study how strategic behavior across differing market designs affects emissions when regional climate policies are imposed. In Chapter II, I develop a two-stage model of oligopolistic electricity production to determine if strategic behavior in forward contract and spot markets across differing electricity market designs increases or decreases emissions leakage from regional climate policies. I find that under uncertainty from demand and renewable resource shocks, centralized market designs generally reduce market power through arbitraging away price risk between forward and spot markets. However, under an asymmetric carbon cap and trade program, resulting emissions leakage is decreased by bilateral markets, which act as a structural backstop to emissions leakage. Emissions leakage increases when bilateral markets trade with, or are integrated with centralized markets, potentially reducing the efficacy of regional climate policies. In Chapter III, I study the interaction between sub-global climate policy and sub-global design of goods markets using an example of market expansion from wholesale electricity markets–the Western Energy Imbalance Market (EIM) in California. Using a difference-in-differences and triple-differences framework with matching to account for self-selection, I investigate how the EIM affects emissions leakage from California’s carbon cap and trade program. I find that the EIM caused a modest increase in emissions leakage into participating regions outside California, despite the relatively small trading volumes. The results have implications for ongoing efforts to expand competitive wholesale electricity markets across regions with differing climate policies. The results of this dissertation are informative for sub-global climate policy when trade in goods markets occurs across regions with different market clearing rules. Specifically, reduced transactions costs in trade between regulated and unregulated regions may tend to exacerbate emissions leakage. These results are informative in the context of continuing changes in wholesale electricity markets, including potential market expansions and continued integration of regional electricity markets across the U.S. and the European Union.



Essays On Electricity Markets


Essays On Electricity Markets
DOWNLOAD
Author : Linda Rud
language : en
Publisher:
Release Date : 2009

Essays On Electricity Markets written by Linda Rud and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.




Essays On The Economics Of Electricity Markets


Essays On The Economics Of Electricity Markets
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2014

Essays On The Economics Of Electricity Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.




Essays In Market Design Economics


Essays In Market Design Economics
DOWNLOAD
Author : Joseph E. Duggan
language : en
Publisher:
Release Date : 2018

Essays In Market Design Economics written by Joseph E. Duggan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economics categories.


The third chapter of the dissertation studies a one sided many-to-many matching model called the Stable Fixtures problem. First studied by Irving and Scott (2007), the Stable Fixtures Problem is a generalization of the Stable Roommates problem. A pair-wise stable matching is not guaranteed to exist for a given instance of the fixtures problem. In this chapter, a psychologically motivated class of preferences that guarantees the existence of a pair-wise stable matching are explored and potential applications of this model for electricity markets are discussed.



Essays In Industrial Organization


Essays In Industrial Organization
DOWNLOAD
Author : Adam James Smith
language : en
Publisher:
Release Date : 2021

Essays In Industrial Organization written by Adam James Smith and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.


Chapter 1 of this dissertation explores the tradeoff digital goods platforms face when deciding whether to allocate visibility to established products of known quality or to new products of unknown quality, where quality must be learned by observing the behavior of users. Using high frequency data on views and downloads from Nexus Mods, a platform for mods (user generated content) for the popular video game Skyrim, I estimate a structural model of search, downloads, and expectation formation. I find that the platform is currently over-experimenting: by reducing the visibility of new mods they could increase aggregate downloads by at least 4%. Consumer search behavior is sensitive to the level of experimentation, suggesting platforms need to consider equilibrium effects when deciding on how much visibility to give new products. Chapter 2 studies the market for undergraduate college admissions. The uneven geographic distribution of colleges in the United States endows students with uneven access to colleges depending on where they live. To examine the implication of this for student welfare, we estimate a model of high school students' college choices, allowing for rich heterogeneity in students' preferences for college attributes. We use data on students' enrollment decisions and application decisions-i.e., the sets of colleges to which they applied-to identify the distribution of students' preferences, and find that place indeed matters: the expected value of applying to college differs dramatically across states and across counties within a state. This is a joint project with Chao Fu, Junjie Guo, and Alan Sorensen and is forthcoming in the Journal of Monetary Economics.



Three Essays On Making Electric Power Markets


Three Essays On Making Electric Power Markets
DOWNLOAD
Author : Brian Thomas Kench
language : en
Publisher:
Release Date : 2000

Three Essays On Making Electric Power Markets written by Brian Thomas Kench and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.




Essays On Electricity Markets


Essays On Electricity Markets
DOWNLOAD
Author : Mahdi Chahkandi
language : en
Publisher:
Release Date : 2020

Essays On Electricity Markets written by Mahdi Chahkandi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Electric industries categories.


Debates about the utility death spiral have gained momentum as the increasing adoption of distributed generation (DG) during the past decade is threatening the traditional business model of electric utilities. Since most jurisdictions have implemented policies that encourage adoption of DG, it seems that the best approach for utilities to deal with the issue of the utility death spiral is to incorporate DG into their business models. In this dissertation, I analyze two policies that can resolve the death spiral problem. The first policy involves levying an option charge on consumers for the right to use the grid when their DG devices are not generating enough electricity. The other policy involves using smart meters to charge retail consumers different per unit prices in different demand periods. My theoretical results show that these two policies can resolve the death spiral problem and my simulation results confirm that the option charge and variable pricing indeed resolve a death spiral situation that I simulate for the case of California. The option charge, however, outperforms the variable pricing policy in terms of increasing consumer welfare.



Collected Papers From The Mathematical Institute Faculty Of Science Nagoya University


Collected Papers From The Mathematical Institute Faculty Of Science Nagoya University
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 1949

Collected Papers From The Mathematical Institute Faculty Of Science Nagoya University written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1949 with categories.




Essays In Industrial Organization


Essays In Industrial Organization
DOWNLOAD
Author : Yeon Ju Baik
language : en
Publisher:
Release Date : 2022

Essays In Industrial Organization written by Yeon Ju Baik and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.


This thesis contains two essays on industrial organization, particularly matching and strategic interaction between the players. The first chapter examined the matching in the online platform and focused on how the advertising changes the matching pattern. The last chapter studies matching in the electricity market. In the first chapter, I examined how advertising affects equilibrium prices in an online marketplace by using unique data from a Korean online resale market. The posting frequency in the used market is used as a measure for advertising. Using the posted price, I infer how sellers compete in price using the empirical implications of the \cite{armstrong2020patterns} framework of oligopolistic sellers. The analysis shows that sellers with more frequent listing charge prices with first-order stochastically dominant distributions than sellers who advertise less. Sellers who post less face more elastic demand than the frequent posters, resulting in higher markups for the frequent posters. Repeated posting benefits frequent posters and platforms by increasing the market price and chances of sales but can harm consumer welfare. The second chapter studies matching in the energy market using the case of the power purchase agreement, which is a way of selling and purchasing electricity generated from renewable sources at a fixed price over long periods. This paper investigates the link between wholesale market risk and the equilibrium prices of these contracts. We first present a stylized model of PPA equilibrium to fix intuition on the relationship between PPA prices, wholesale prices, and market volatility. We then test the model predictions using data on all utility-scale wind projects. Results suggest that the mean retail electricity prices and wholesale price volatility positively correlate with PPA prices, whereas the volatility measure does not strongly correlate with the equilibrium price. These findings highlight how the participation of both buyers and sellers would affect equilibrium prices in the PPA market.