The paper deals with the Supply Function Equilibrium (SFE) as a model of competition in electricity markets. It introduces theoretical advancement through relaxing traditional assumptions of continuity of supply functions and provides a foundation for efficient computational algorithms. Special emphasis is placed on exploring the existence of equilibria and on the players’ ability to learn subj...

This note investigates the standard Bertrand-Edgeworth duopolistic competition in which two firms sell a homogenous good and have an identical capacity constraint. We examine three firstcome, first-served rationing rules: a) high-to-low rationing where customers arrive in decreasing order of willingness to pay, b) proportional rationing where customer arrivals are independent of willingness to ...

Due to the rapid development of technology in recent years, market competition and customer expectations have increased more than ever. In this situation, it is vital for businesses survival to determine the appropriate policy for inventory control, pricing, and routing, and decisions regarding each of them are often made separately. If the products have a perishable nature, it will be more imp...