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Capacity Utilization in Electricity Market Behavior: An Experimental Analysis

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dc.creatorCastañeda, Jaime Andrésspa
dc.creatorArango Aramburo, Santiagospa
dc.date.accessioned2020-08-28T15:51:35Z
dc.date.available2020-08-28T15:51:35Z
dc.date.created2019spa
dc.description.abstractThis paper describes a laboratory experiment of electricity markets to study the effect of variable capacity utilization over market dynamics. Previous experiments have left out a potential source of cyclical behavior by assuming full capacity utilization. We run 12 experimental markets of the power generation sector, involving two treatments: a first treatment with fixed (full) capacity utilization where subjects make investment decisions, and a second treatment where subjects make both investment and capacity utilization decisions. Visual inspections, basic statistics and simulation tests run with decision rules estimated from experimental data show that the markets run under full capacity utilization present a cyclical behavior in market development. Conversely, such tests show a noncyclical market development for the markets run under variable capacity utilization, suggesting that varying capacity utilization favors stability rather than a cyclical behavior.eng
dc.format.mimetypeapplication/pdf
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/28937
dc.language.isoengspa
dc.publisherThe Pennsylvania State Universityspa
dc.relation.citationTitleCiteSeerX
dc.relation.ispartofCiteSeerX,spa
dc.relation.urihttp://citeseerx.ist.psu.edu/viewdoc/versions?doi=10.1.1.314.2470spa
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.sourceCiteSeerXspa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subject.keywordElectricity Marketspa
dc.subject.keywordCapacity Utilizationspa
dc.subject.keywordDecision-Makingspa
dc.subject.keywordExperimentalspa
dc.subject.keywordEconomicsspa
dc.subject.keywordSystem Dynamicsspa
dc.titleCapacity Utilization in Electricity Market Behavior: An Experimental Analysisspa
dc.title.TranslatedTitleUtilización de la capacidad en el comportamiento del mercado eléctrico: un análisis experimentalspa
dc.typeconferenceObjecteng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaDocumento de conferenciaspa
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