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Silvester van Koten European University Institute, Florence CERGE-EI, Prague Experimental  Energy  Economics Presenting results of Van Koten, S. and Ortmann, A., 2011. “Structural versus Behavioral Remedies in the Deregulation of Electricity Markets: An Experimental Investigation Guided by Theory and Policy Concerns.”
[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics
[object Object],[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics
[object Object],[object Object],Silvester van Koten Experimental Energy Economics
1. Theoretical Physics
2. Bridge model experimentation
3. Bridge
1. Theory 2. Engineering 3. Implementation Silvester van Koten Experimental Energy Economics Theoretical Physics Bridge Experimentation Bridge Theoretical Economics ,[object Object],[object Object],Competitive Market E.g.,  Energy Market
Market power in generator markets
Market power in generator markets
[object Object],[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics Behavioral measure of forward market More supply of each competitor Allaz & Villa (1993) Forward market -> more supply & lower prices Remedies 1. Theory
43 44 45 Theoretical predictions (following Allaz & Vila, 1993) Silvester van Koten Experimental Energy Economics
[object Object],[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics Behavioral measure of forward market More supply of each competitor Allaz & Villa (1993) Forward market -> more supply & lower prices Remedies 1. Theory 2. “Engineering”
“ Engineering” Economics Experiment
“ Engineering” Economics Experiment
“ Engineering” Economics Experiment The new state-of-the-art LEE  Laboratory ( www.vse-lee.cz )
Silvester van Koten Experimental Energy Economics
M3, M3F, M4  Silvester van Koten Experimental Energy Economics Structural measure effect (1 more competitor) Behavioral measure effect (Forward market) >
[object Object],[object Object],[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics
[object Object],[object Object],[object Object],[object Object],Silvester van Koten Experimental Energy Economics
Questions?
Silvester van Koten European University Institute, Florence CERGE-EI, Prague Experimental  Energy  Economics Presenting results of Van Koten, S. and Ortmann, A., 2011. “Structural versus Behavioral Remedies in the Deregulation of Electricity Markets: An Experimental Investigation Guided by Theory and Policy Concerns.”

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Experimental Energy Economics

  • 1. Silvester van Koten European University Institute, Florence CERGE-EI, Prague Experimental Energy Economics Presenting results of Van Koten, S. and Ortmann, A., 2011. “Structural versus Behavioral Remedies in the Deregulation of Electricity Markets: An Experimental Investigation Guided by Theory and Policy Concerns.”
  • 2.
  • 3.
  • 4.
  • 6. 2. Bridge model experimentation
  • 8.
  • 9. Market power in generator markets
  • 10. Market power in generator markets
  • 11.
  • 12. 43 44 45 Theoretical predictions (following Allaz & Vila, 1993) Silvester van Koten Experimental Energy Economics
  • 13.
  • 16. “ Engineering” Economics Experiment The new state-of-the-art LEE Laboratory ( www.vse-lee.cz )
  • 17. Silvester van Koten Experimental Energy Economics
  • 18. M3, M3F, M4 Silvester van Koten Experimental Energy Economics Structural measure effect (1 more competitor) Behavioral measure effect (Forward market) >
  • 19.
  • 20.
  • 22. Silvester van Koten European University Institute, Florence CERGE-EI, Prague Experimental Energy Economics Presenting results of Van Koten, S. and Ortmann, A., 2011. “Structural versus Behavioral Remedies in the Deregulation of Electricity Markets: An Experimental Investigation Guided by Theory and Policy Concerns.”