Unit-Contingent Power Purchase Agreement and Asymmetric Information About Plant Outage

Published Online:https://doi.org/10.1287/msom.1110.0362

References

  • Avenhaus R., Canty M. J. Playing for time: A sequential inspection game. Eur. J. Oper. Res. (2005) 167(2):475–492CrossrefGoogle Scholar
  • Bachrach D., Wiser R., Bolinger M., Golove W. Comparing the risk profiles of renewable and natural gas electricity contracts. (2003) . Report LBNL-50965, Lawrence Berkeley National Laboratory, Berkeley, CAGoogle Scholar
  • Bernheim B. D., Whinston M. D. Incomplete contracts and strategic ambiguity. Amer. Econom. Rev. (1998) 88(4):902–932Google Scholar
  • Billingsley P.Probability and Measure (1995) 3rd ed.(John Wiley & Sons, New York) Google Scholar
  • Boot A. W. A., Greenbaum S. I., Thakor A. V. Reputation and discretion in financial contracting. Amer. Econom. Rev. (1993) 83(5):1165–1183Google Scholar
  • Boyabatlı O., Kleindorfer P. R., Koontz S. R. Integrating long-term and short-term contracting in beef supply chains. Management Sci. (2011) 57(10):1771–1787LinkGoogle Scholar
  • California Independent System Operator Five-year assessment (2004–2008). (2003) (California ISO, Folsom) . Accessed January 20, 2012, http://www.caiso.com/docs/09003a6080/28/5b/09003a6080285b79.pdfGoogle Scholar
  • Correia P. Games with incomplete and asymmetric information in poolco markets. Power Systems, IEEE Trans. (2005) 20(1):83–89CrossrefGoogle Scholar
  • Demski J. S., Sappington D. E. M. Resolving double moral hazard problems with buyout agreements. RAND J. Econom. (1991) 22(2):232–240CrossrefGoogle Scholar
  • Deng S.-J., Oren S. S. Electricity derivatives and risk management. Energy (2006) 31(6–7):940–953CrossrefGoogle Scholar
  • Diamond H. Minimax policies for unobservable inspections. Math. Oper. Res. (1982) 7(1):139–153LinkGoogle Scholar
  • Dresher M. A sampling inspection problem in arms control agreements: A game-theoretic analysis. (1962) . Memorandum RM-2972-ARPA. Prepared for Advanced Research Projects Agency, RAND Corporation, Santa Monica, CAGoogle Scholar
  • Ferrero R., Rivera J., Shahidehpour S. Application of games with incomplete information for pricing electricity in deregulated power pools. Power Systems, IEEE Trans. (1998) 13(1):184–189CrossrefGoogle Scholar
  • Guesnerie R., Laffont J.-J. A complete solution to a class of principal-agent problems with an application to the control of a self-managed firm. J. Public Econom. (1984) 25:329–369CrossrefGoogle Scholar
  • Harsanyi J. C. Games with incomplete information played by “Bayesian” players, I–III: Part I. The basic model. Management Sci. (1967) 14(3):159–182LinkGoogle Scholar
  • Harsanyi J. C. Games with incomplete information played by “Bayesian” players, I–III: Part II. Bayesian equilibrium points. Management Sci. (1968a) 14(5):320–334LinkGoogle Scholar
  • Harsanyi J. C. Games with incomplete information played by “Bayesian” players, I–III: Part III. The basic probability distribution of the game. Management Sci. (1968b) 14(7):486–502LinkGoogle Scholar
  • Heese H. S., Kemahlioglu-Ziya E. Revenue sharing with a rational retailer. (2010) . Working paper, Indiana University, BloomingtonGoogle Scholar
  • Hortaçsu A., Puller S. L. Understanding strategic bidding in multi-unit auctions: A case study of the Texas electricity spot market. RAND J. Econom. (2008) 39(1):86–114CrossrefGoogle Scholar
  • Laffont J.-J., Martimort D.The Theory of Incentives: The Principal-Agent Model (2002) (Princeton University Press, Princeton, NJ) CrossrefGoogle Scholar
  • Li T., Shahidehpour M. Strategic bidding of transmission-constrained GENCOs with incomplete information. Power Systems, IEEE Trans. (2005) 20(1):437–447CrossrefGoogle Scholar
  • Midwest ISO Business practices manual 009: Market monitoring and mitigation. (2009) . BPM-009-r4. Accessed January 20, 2012, https://www.midwestiso.orgLibrary/BusinessPracticesManualsGoogle Scholar
  • Midwest ISO Business practices manual 005: Market settlements calculation guide. (2012) . MS-OP-029-r13. Accessed January 20, 2012, https://www.midwestiso.org/Library/BusinessPracticesManualsGoogle Scholar
  • Mookherjee D., Png I. Optimal auditing, insurance, and redistribution. Quart. J. Econom. (1989) 104(2):399–415CrossrefGoogle Scholar
  • Myerson R. B. Incentive compatibility and the bargaining problem. Econometrica (1979) 47(1):61–73CrossrefGoogle Scholar
  • Myerson R. B. Optimal auction design. Math. Oper. Res. (1981) 6(1):58–73LinkGoogle Scholar
  • Reinganum J. F., Wilde L. L. Income tax compliance in a principal-agent framework. J. Public Econom. (1985) 26(1):1–18CrossrefGoogle Scholar
  • Reyniers D. J., Tapiero C. S. Contract design and the control of quality in a conflictual environment. Eur. J. Oper. Res. (1995a) 82(2):373–382CrossrefGoogle Scholar
  • Reyniers D. J., Tapiero C. S. The delivery and control of quality in supplier-producer contracts. Management Sci. (1995b) 41(10):1581–1589LinkGoogle Scholar
  • Shahidehpour M., Yamin H., Li Z.Market Operations in Electric Power Systems (2002) (John Wiley & Sons, New York) CrossrefGoogle Scholar
  • Townsend R. M. Optimal contracts and competitive markets with costly state verification. J. Econom. Theory (1979) 21(2):265–293CrossrefGoogle Scholar
  • U.S. Energy Information Administration (EIA) Electric power annual 2006. (2007) (EIA, Washington, DC) . Accessed January 20, 2012, http://www.eia.gov/electricity/annual/archive/03482006.pdfGoogle Scholar
  • Wabash Valley Power Association (WVPA) 2005 Summer capacity survey. (2005) (WVPA, Indianapolis) . Accessed January 20, 2012, http://www.in.gov/iurc/files/05summer_wvpa.pdfGoogle Scholar
  • Wabash Valley Power Association (WVPA) 2009 Summer capacity survey. (2009) (WVPA, Indianapolis) . Accessed January 20, 2012, http://www.in.gov/iurc/files/WVPA_Summer_Reliability_Presentation_2009(1).pdfGoogle Scholar
  • Zaccaria E., Hoog D., Fromer D., Mayers M., Kane D., Husar K., Hawk G., O'Neill P. Method and computerized system for reducing risk in an energy industry. (2006) . U.S. Patent 7027992. Accessed January 20, 2012, http://www.patentstorm.us/patents/7027992/description.htmlGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.