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- Severin Borenstein, James Bushnell, +5 authors Celeste Saravia
- 2002

We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. The method alsoâ€¦ (More)

- Ali HortaÃ§su, Patrick Bajari, +5 authors Volkan TaÅŸkÄ±n
- 2002

An important question in the theory of divisible good auctions is to determine whether a discriminatory auction yields higher revenues to the auctioneer than a uniform price or Vickrey auction. Thisâ€¦ (More)

- Frank A. Wolak
- 2003

This paper measures the unilateral incentive each of the five largest electricity suppliers in California had to exercise market power in the stateâ€™s wholesale market during the four-month periodâ€¦ (More)

- Che-Lin Su, Kenneth L. Judd, +20 authors Moshe Buchinsky
- 2007

Maximum likelihood estimation of structural models is often viewed as computationally difficult. This impression is due to a focus on the Nested FixedPoint approach. We present a direct optimizationâ€¦ (More)

- Frank A. Wolak
- 2001

This paper develops three asymptotically equivalent tests for examining the validity of imposing linear inequality restrictions on the parameters of linear econometric models. First we consider theâ€¦ (More)

- Severin Borenstein, James Bushneil, Ronan Knittel, Al Klevorick, Frank A. Wolak
- 1999

The wave of electricity market restructuring both within the United States and abroad has brought the issue of horizontal market power to the forefront of energy policy. Traditionally, estimation andâ€¦ (More)

- Jan De Loecker, Pinelopi Koujiani Goldberg, Amit K. Khandelwal, Nina Pavcnik, Andres Rodriguez-Clare, Frank A. Wolak
- 2012

This paper examines how prices, markups and marginal costs respond to trade liberalization. We develop a framework to estimate markups from production data with multi-product rms. This approach doesâ€¦ (More)

Nonlogit maximum-likelihood estimators are inconsistent when using data on a subset of the choices available to agents. I show that the semiparametric, multinomial maximum-score estimator isâ€¦ (More)

- Severin Borenstein, JAMES B. BUSHNELL, Frank A. Wolak
- 2003

We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. Using data fromâ€¦ (More)

With risk neutral traders and zero transactions costs, the expected value of the difference between the current forward price and the spot price of a commodity at the delivery date of the forwardâ€¦ (More)