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portada Imperfect Markets and Imperfect Regulation: An Introduction to the Microeconomics and Political Economy of Power Markets (The mit Press)
Type
Physical Book
Publisher
Author
Year
2019
Language
English
Pages
416
Format
Hardcover
ISBN13
9780262039284
Categories

Imperfect Markets and Imperfect Regulation: An Introduction to the Microeconomics and Political Economy of Power Markets (The mit Press)

Thomas-Olivier Leautier (Author) · Mit Press · Hardcover

Imperfect Markets and Imperfect Regulation: An Introduction to the Microeconomics and Political Economy of Power Markets (The mit Press) - Thomas-Olivier Leautier

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Synopsis "Imperfect Markets and Imperfect Regulation: An Introduction to the Microeconomics and Political Economy of Power Markets (The mit Press)"

The first textbook to present a comprehensive and detailed economic analysis of electricity markets, analyzing the tensions between microeconomics and political economy. The power industry is essential in our fight against climate change. This book is the first to examine in detail the microeconomics underlying power markets, stemming from peak-load pricing, by which prices are low when the installed generation capacity exceeds demand but can rise a hundred times higher when demand is equal to installed capacity. The outcome of peak-load pricing is often difficult to accept politically, and the book explores the tensions between microeconomics and political economy. Understanding peak-load pricing and its implications is essential for designing robust policies and making sound investment decisions. Thomas-Olivier Leautier presents the model in its simplest form, and introduces additional features as different issues are presented. The book covers all segments of electricity markets: electricity generation, under perfect and imperfect competition; retail competition and demand response; transmission pricing, transmission congestion management, and transmission constraints; and the current policy issues arising from the entry of renewables into the market and capacity mechanisms. Combining anecdotes and analysis of real situations with rigorous analytical modeling, each chapter analyzes one specific issue, first presenting findings in nontechnical terms accessible to policy practitioners and graduate students in management or public policy and then presenting a more mathematical analytical exposition for students and researchers specializing in the economics of electricity markets and for those who want to understand and apply the underlying models.

Customers reviews

Misael AvendañoWednesday, February 24, 2021
Verified Purchase

Me parece un buen libro, ya que está escrito desde un punto de vista muy pedagógico, lo cual es positivo para el público que no es especialista en la materia. En general, cada capítulo del libro aborda los temas desde dos puntos de vista: primero de forma descriptiva y después de forma matemática, lo que permite que el texto pueda ser de utilidad para un público más amplio. Sin perjuicio de lo indicado en lo precedente, y si el lector adquiere el libro con el fin de profundizar en la materia, es vital que cuente con conocimientos de microeconomía intermedia y de análisis económico (perspectiva matemática). Lo anterior, debido a que los modelos utilizados no son elementales y utilizan herramientas matemáticas sofisticadas.

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