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Title:On Optimal Scarcity Prices PDF Logo
Authors:Zöttl, Gregor
Issue Date:2010
Series/Report no.:Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Regulation and Pricing Policies F8-V3
Abstract:This article contributes to the debate of missing money (e.g. Joskow(2007)) which has seriously questioned the desirability of caps on scarcity prices in markets with fluctuating demand by emphasizing their potentially negative impact on firms investment decisions in the long run. A prominent example are recently liberalized electricity markets, where competition authorities have imposed caps in order to mitigate the exercise of market power at the spot markets. In order to shed light on the still incompletely explored impact of such caps in the long run we analyze investment of strategic firms in base
Subjects:load and peak
JEL:D43
L51
L94
Document Type:Conference Paper
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

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