Alexis Bergès (PSE) présentera ses travaux sur "Testing how uncertainty influences supplier bidding in multi-unit, uniform price auctions".
Le séminaire se tiendra de 11 h à 12 h dans la salle de réunion.
Alexis Bergès, "Testing how uncertainty influences supplier bidding
in multi-unit, uniform price auctions". We empirically investigate the effects of uncertainty on the supply bidding behaviour of electricity producing firms in multi-unit, uniform price auctions, that is on data from the french day ahead auctions for electricity from 2010 to 2013. By considering the existence of ramping costs, we predict that uncertainty should impact the strategies. We develop a methodology in order to link local weather data with a national market outcome. We measure the impact of exogenous factors on the demand bids, that is how demand functions are deformed by those factors, and how the residual uncertainty on demand impacts the bids of producers. We observe that uncertainty indeed impacts producer’s strategies.