The Short-Run Approach to Long-Run Equilibrium in Competitive Markets A General Theory with Application to Peak-Load Pricing with Storage /

• Main Authors: Horsley, Anthony (Author), Wrobel, Andrew J. (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Cham : Springer International Publishing : Imprint: Springer, 2016.
• Series: Lecture Notes in Economics and Mathematical Systems, 684
• Subjects: Energy policy.; Energy and state.; Energy storage.; Mathematical optimization.; Energy industries.; Economic theory.; Microeconomics.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Energy Policy, Economics and Management.; Continuous Optimization.; Energy Storage.; Energy Economics.

The authors present a new formal framework for finding the long-run competitive market equilibrium through short-run equilibria by exploiting the operating policies and plant valuations. This “short-run approach” develops ideas of Boiteux and Koopmans. Applied to the peak-load pricing of electricity...