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Articles 1 - 6 of 6
Full-Text Articles in Social and Behavioral Sciences
Letter To Deputy Administrator Blum (Cms) On Medicare Auction, Peter Cramton
Letter To Deputy Administrator Blum (Cms) On Medicare Auction, Peter Cramton
Peter Cramton
No abstract provided.
Reducing Healthcare Costs Requires Good Market Design, Peter Cramton, Brett Katzman
Reducing Healthcare Costs Requires Good Market Design, Peter Cramton, Brett Katzman
Peter Cramton
No abstract provided.
Letter From 167 Concerned Auction Experts On Medicare Competitive Bidding Program, Peter Cramton
Letter From 167 Concerned Auction Experts On Medicare Competitive Bidding Program, Peter Cramton
Peter Cramton
No abstract provided.
Wind Energy In Colombia: A Framework For Market Entry, Peter Cramton, Walter Vergara, Alejandro Deeb, Natsuko Toba, Irene Leino
Wind Energy In Colombia: A Framework For Market Entry, Peter Cramton, Walter Vergara, Alejandro Deeb, Natsuko Toba, Irene Leino
Peter Cramton
The purpose of this report is to provide decision makers in Colombia (and by extension other countries or regions), who are considering the deployment or consolidation of wind power, with a set of options to promote its use. The options presented are the result of an analysis of the Colombian market; this analysis included simulations and modeling of the country’s power sector, and extensive consultations with operators, managers, and agents. More information on the analysis and simulations is presented in the appendixes. Wind was chosen to exemplify the range of renewable energy alternatives available to complement traditional power sector technologies …
Using Forward Markets To Improve Electricity Market Design, Peter Cramton, Lawrence Ausubel
Using Forward Markets To Improve Electricity Market Design, Peter Cramton, Lawrence Ausubel
Peter Cramton
Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by …
Virtual Power Plant Auctions, Peter Cramton, Lawrence Ausubel
Virtual Power Plant Auctions, Peter Cramton, Lawrence Ausubel
Peter Cramton
Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets.