Pivotal Suppliers and Market Power in Experimental Supply Function Competition
Bibliographic Data
| ID | 9718045 |
|---|---|
| Authors | Jordi Brandts (0000-0001-9082-9258, Universitat Autonoma de Barcelona and Barcelona GSE), Stanley S Reynolds (University of Arizona), Arthur Schram (0000-0002-1767-4998, University of Amsterdam) |
| Year | 2014 |
| Volume | 124 |
| Issue | 579 |
| Pages | 887-916 |
| Publication date | 2014-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12058 |
| OpenAlex | W2144509850 |
| Language | EN |
| Citations received | 1 |
| References cited | 25 |
We use experiments to study market power with supply function competition, akin to the competition in electricity markets. Our treatments vary the distribution of demand levels as well as the amount and symmetry of the allocation of production capacity between different suppliers. We relate our results to a descriptive power index and to the predictions of two models: a supply function equilibrium (SFE) model and a multi-unit auction (MUA) model. Observed behaviour is consistent with the equilibria of the unrestricted SFE model and inconsistent with the unique equilibria of two refinements of the SFE model and of the MUA model
Competition (biology · Demand curve · Distribution (mathematics · Econometrics · Economics · Function (biology · Industrial organization · Market power · Microeconomics · Production (economics · Supply · Supply and demand · Auction Theory and Applications · Electric Power System Optimization · Mathematics · Smart Grid Energy Management
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2024 - 2024 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |