http://www.erasmusenergy.com en-us N/A dejong@maycroft.com Mon, 13 Oct 2008 13:47:54 CEST 20 http://www.erasmusenergy.com/articles/158/1/Market-Efficiency-Competition-and-Communication-Experimental-results/Page1.html Published in:
Publication year: 2002
Co-author 1: C.A. Vossler
Co-author 2: T.D. Mount
Co-author 3: V. Barboni
Co-author 4: R.J. Thomas
Co-author 5: R.D. Zimmerman

Economic theory gives no clear indication of the minimum number of producers necessary for a market to define competitive price-quantity equilibria which approximate price equal to marginal cost. Previous work and FERC Guidelines generally suggest that 6 to 10 generators may be workably competitive. Our experiments with PowerWeb suggest that a higher number of suppliers may be necessary to approximate competitive market solutions, this in the absence of any communication among producers. As communications rules are altered to parallel differing types of antitrust enforcement, market results with 24 participants approach pure monopoly values.]]> no@spam.com (Duane Chapman) Mon, 28 Jan 2008 16:41:47 CET http://www.erasmusenergy.com/articles/158/1/Market-Efficiency-Competition-and-Communication-Experimental-results/Page1.html