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dc.contributor.authorGrimm, Veronikaen
dc.contributor.authorZoettl, Gregoren
dc.date.accessioned2009-11-09-
dc.date.accessioned2010-01-13T14:02:00Z-
dc.date.available2010-01-13T14:02:00Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/29557-
dc.description.abstractWe analyze a market game where firms choose capacities under uncertainty about future market conditions and make output choices after uncertainty has unraveled. We show existence and uniqueness of equilibrium under imperfect competition and establish that capacity choices by strategic firms are generally too low from a welfare point of view. We also demonstrate that strategic firms choose even lower capacities if they anticipate competitive spot market pricing (e.g. due to regulatory intervention). We finally illustrate how the model can be used to assess the impact of electricity market liberalization on total capacity and welfare by fitting it to the data of the German electricity market.en
dc.language.isoengen
dc.publisher|aFriedrich-Alexander-Universität Erlangen-Nürnberg, Institut für Wirtschaftspolitik und Quantitative Wirtschaftsforschung (IWQW) |cNürnbergen
dc.relation.ispartofseries|aIWQW Discussion Papers |x01/2008en
dc.subject.jelD43en
dc.subject.jelL13en
dc.subject.jelD41en
dc.subject.jelD42en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordInvestment incentivesen
dc.subject.keyworddemand uncertaintyen
dc.subject.keywordcost uncertaintyen
dc.subject.keywordCournot competitionen
dc.subject.keywordFirst Besten
dc.subject.keywordSecond Besten
dc.subject.keywordcapacity obligationsen
dc.subject.keywordspot market regulationen
dc.subject.stwElektrizitätswirtschaften
dc.subject.stwKapazitätsplanungen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwMarktstrukturen
dc.subject.stwSpieltheorieen
dc.subject.stwSpotmarkten
dc.subject.stwRegulierungen
dc.subject.stwInvestitionen
dc.subject.stwÖkonomischer Anreizen
dc.subject.stwTheorieen
dc.titleStrategic capacity choice under uncertainty: the impact of market structure on investment and welfare-
dc.type|aWorking Paperen
dc.identifier.ppn612408817en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:iwqwdp:012008en

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