Research on Incentive Pricing Model of Deregulated Power Markets(2005年公共管理国际会议论文).docVIP

Research on Incentive Pricing Model of Deregulated Power Markets ( 1.FANG Yong 2.Wang Ming-ming School of Economic Management, Beijing University of Chemical Technology,Beijing P.R.China, 100029 Abstract Information asymmetry has been accompanied with the emergence of oligopolistic electricity markets. Under the market-clearing pricing auction or pay-as-bid auction, generators have every motivation to depart from bidding their marginal costs so as to maximize the profits they can earn. This will introduce immeasurable inefficiencies in the dispatch of power generation. Using mechanism desig