In this paper we consider the formulation and uses of electricity market equilibrium models.

We study the efficient estimation of a class of market equilibrium models. The demand side of the models is based on discrete choice, and the supply side determines the prices through price competition of the firms in the market, hence prices are endogenous. We consider demand in the spirit of Mc

Abstract — In this paper, I use an example from the literature to compare Cournot and supply function equilibrium models of bid-based electricity markets both with and without transmission constraints. I will demonstrate that the parametrization of the supply function model has a significant effect

Social welfare maximizing equilibrium models with continuous and binary variables usually have no solutions if prices are related only to the continuous variable commodities. Previous re-search has shown that introduction of prices related to the binary variables, a type of multipart pricing, can

This paper provides a tool to determine the equilibrium of an electricity market. Within this equilibrium framework, market participants simultaneously optimize their respective individual and conflicting objectives. This market works under locational marginal pricing, i.e., producers and consumers

Abstract: We consider several problems of optimal resource allocation in telecommunication networks and show that they can be formulated as market equilibrium models. This approach enables us to create simple and efficient solution methods. Next, we consider such a resource allocation problem

We investigate the Nash-Cournot oligopolistic market equilibrium model with concave cost function. We show that in this case the model can be formulated as a mixed variational inequality on its convex, compact strategy set, which, in general, may fail to exist an equilibrium point. We give

The sphere of modern financial economics encompases finance, micro investment theory and much of the economics of uncertainty. As is evident from its influence on other branches of economics including public finance, industrial organization and monetary theory, the boundaries of this sphere are both permeable and flexible. The complex interactions of time and uncertainty guarantee intellectual challenge and intrinsic excitement to the study of financial economics. Indeed, the mathematics of the subject contain some of the most interesting applications of probability and optimization theory. But for all its mathematical refinement, the research has nevertheless had a direct and significant influence on practice. It was not always thus. Thirty years ago, finance theory was little more than a collection of anecdotes, rules of thumb, and manipulations of accounting data with an almost exclusive focus on corporate financial management. There is no need in this meeting of the guild to recount the subsequent evolution from this conceptual potpourri to a rigorous economic

The paper derives a general form of the term structure of interest rates. The following assumptions are made: (A.l) The instantaneous (spot) interest rate follows a diffusion process; (A.2) the price of a discount bond depends only on the spot rate over its term; and (A.3) the market is efficient

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