Efficiency-Risk Tradeoffs in Dynamic Oligopoly Markets ï¿1⁄2 with Application to Electricity Markets


In this paper, we examine in an abstract framework, how a tradeoff between efficiency and risk arises in different dynamic oligopolistic market architectures. We consider a market in which there is a monopolistic resource provider and agents that enter and exit the market following a random process. Self-interested and fully rational agents dynamically… (More)


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