Competitive electricity markets which rely on centralized dispatch require a mechanism to solicit offers from competing generators. Ideally, such an auction mechanism provides incentives to submit offers equal to the marginal cost of generation for each generator. Economic theory suggests that the Uniform Price auction is an appropriate institution. However, an efficient implementation of this ...

This study is concerned with the aggregation of information in stock index cash and futures markets. The efficient price discovery is analyzed with reference to the error correction representation and to the common trend representation of cointegrated variables. The empirical evidence is based on three month of intraday data on the French CAC 40 index. The results indicate that deviations from ...

Gasoline and crude oil price movements have been the focus of many studies in last decade. We use asymmetric error correction model (ERM) to examine hypothesis pricing for both regular premium gasoline markets at US national level four states with highest consumption. Using weekly retail prices from June 2000 February 2023, results show an response market all level. However, adjustment speed te...

The standard economic price theory of working with efficient source allocation is being confronted a series empirical findings asymmetric responses. objective the research was to examine whether distribution prices within dairy chain in Czech Republic fair and farmers progressed collective approach strengthen their position supply chain. We used pre-cointegration cointegration test for asymmetr...

Competitive electricity markets which rely on centralized dispatch require a mechanism to solicit offers from competing generators. Ideally, such an auction mechanism provides incentives to submit offers equal to the marginal cost of generation for each generator. Economic theory suggests that the Uniform Price auction is an appropriate institution. However, an efficient implementation of this ...