Big Island, HI, USA
Jan. 6, 2003 to Jan. 9, 2003
Peter Cramton , University of Maryland
This paper examines principles of market design as applied to electricity markets. I illustrate the principles with examples of both good and bad designs. I discuss one of the main design challenges-dealing with market power. I then discuss FERC's choice of a standard market design.
Peter Cramton, "Electricity Market Design: The Good, the Bad, and the Ugly", HICSS, 2003, 36th Hawaii International Conference on Systems Sciences, 36th Hawaii International Conference on Systems Sciences 2003, pp. 54b, doi:10.1109/HICSS.2003.1173866