This paper surveys the literature relevant for comparing centralized and decentralized
wholesale electricity markets. Under a centralized design, producers submit detailed cost …

Variational analysis has been recognized as a fruitful area in mathematics that on the one
hand deals with the study of optimization and equilibrium problems and on the other hand …

In centralized day-ahead markets, producers submit detailed cost data to the market
operator that decides how much should be produced in each plant. This differs from …

While economic theory acknowledges that some features of technology (eg, indivisibilities,
economies of scale and specialization) can fundamentally violate the traditional convexity …

In this paper we study the efficient points of a closed production set with free disposal. We
first provide a condition on the boundary of the production set, which is equivalent to the fact …

This paper studies the problem of allocating utility losses among n agents with cardinal non-
comparable utility functions. This problem is referred to as the Nash rationing problem, as it …

We consider a general equilibrium model with externalities and non-convexities in
production. The consumption sets, the preferences of the consumers and the production …

We consider individual consumer–producers who operate within a perfectly competitive
market economy with transaction costs, presenting several propositions that characterize the …

The purpose of this paper is to prove the existence of a marginal pricing economic
equilibrium in presence of increasing returns and externalities in a commodity space …

Abstract Using Hart (1979, 1985) and Mas-Colell (1984), I defend the idea that the standard
ownership structure is somewhat problematic in general equilibrium models of monopolistic …