Richard E. Schuler

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The underlying structure of why and how consumers value reliability of electric service is explored, together with the technological options and cost characteristics for the provision of reliability and the conditions under which market mechanisms can be used to match these values and costs efficiently. This analysis shows that the level of reliability of(More)
Previous experimental and game-theoretic analyses of deregulated electricity markets suggest that communities having four or less effective suppliers, either because of transmission constraints or load characteristics, or retail customers facing suppliers or marketing agents having more than seventy percent of the region's market, are likely to experience(More)
Deregulated wholesale markets for bulk electricity supplies are likely to deviate from the perfectly competitive ideal in many areas where transmission losses, costs and capacity constraints isolate customers from the effective reach of many generators and limit the number of competitors. In those regions where a few suppliers or marketing agents dominate(More)
The economic theory that has been used to support restructuring of the electric power industry has ignored several important technological constraints and public goods that affect the way in which power is delivered. Some of these public goods include voltage, frequency, and reliability of lines. Similarly, engineers, by using security-constrained(More)
Robert Thomas has shown, using simulations of experimental results, that the power flow on any line in an electric network is linearly proportional to the total system load when that system is optimally dispatched using accurate generator cost data. By comparison, when offers from generators obtained in a wholesale market that is not perfectly competitive(More)
This landmark book covers a range of issues concerning the consequences of terrorist attacks. Beginning with a discussion of new policies and strategies, it then delves into specific areas of concern, modeling a range of possible scenarios and ways to mitigate or preempt damages. Top researchers from around the world discuss issues such as: airport(More)
The objective of this paper is to present experimental results for testing the performance of different auction mechanisms related to the introduction of competitive markets for the generation of electricity. The research is based on the concept of smart markets introduced by Vernon Smith and a simulation model (PowerWeb) of a realistic bulk power system.(More)