[PDF] Conference Paper: On the use of pay-as-bid auctions in California: some criticisms and alternative proposal

Título:

On the use of pay-as-bid auctions in California: some criticisms and alternative proposal

Autores:

C. Vázquez , M. Rivier , I.J. Pérez-Arriaga

Palabras clave:

No disponible/Not available

Líneas de investigación

Resumen:

This document presents some ideas regarding the use of the pay-as-bid pricing rule in multi-unit auctions. In particular, we focus on electricity markets and on the proposals for adopting this kind of mechanism in the California Power Exchange. We find that the pay-as-bid auction has important drawbacks. Instead, we attack the recent problems in California from another point of view and propose an alternative solution.

Referencia:

California Power Exchange Blue Ribbon Panel "Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing?". New York (USA). November 28, 2000

Fecha de publicación:

noviembre 2000

Referencia interna del documento:

IIT-00-077A

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