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Behavioral Economics Commons™

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Labor Economics

Selected Works

2003

Industrial Organization

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Full-Text Articles in Behavioral Economics

Electricity Market Design: The Good, The Bad, And The Ugly, Peter Cramton Jan 2003

Electricity Market Design: The Good, The Bad, And The Ugly, Peter Cramton

Peter Cramton

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.

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