Models of supply functions competition with application to the network auctions
This paper studies different auctions of supply functions in a local market and a simple network market of a homogeneous good with two nodes and a fixed transmission loss per unit of the good. We study problems of existence, uniqueness and computation of Nash equilibria for these models. We also obtain the estimate of Nash equilibria deviation from the Walrasian equilibrium for each variant. We consider the problem of optimal auction organization from the point of view of the social welfare maximization.
Russia, supply function auction, Cournot, Vickrey, Russian electricity market
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