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PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
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X-WR-CALDESC:Events for CREST
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TZID:Europe/Helsinki
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TZOFFSETFROM:+0200
TZOFFSETTO:+0300
TZNAME:EEST
DTSTART:20190331T010000
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DTSTART:20191027T010000
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BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20190617T110000
DTEND;TZID=Europe/Helsinki:20190617T120000
DTSTAMP:20260713T073643
CREATED:20190611T120447Z
LAST-MODIFIED:20190611T120447Z
UID:12277-1560769200-1560772800@crest.science
SUMMARY:David Benatia - "Strategic Reneging in Sequential Imperfect Markets"
DESCRIPTION:Internal Seminar in Microeconomics :  \n\nTime: 11:00 am – 12:00pm\nDate: 17th June 2019\nPlace: Room 3105.\n David Benatia – “Strategic Reneging in Sequential Imperfect Markets” \nAbstract: This paper investigates the incentives to manipulate sequential markets by strategically reneging on forward commitments. First\, we study the behavior of a monopolist in a two-period model with demand uncertainty. Our results deliver guidance for identifying manipulations and evaluating its market impacts. Second\, we test the model’s predictions using occurrences of reneging on long-term commitments in Alberta’s electricity market. We implement a machine learning approach to identify and evaluate manipulations. We find that a dominant supplier increased its revenues by $32 million in five months\, causing Alberta’s electricity procurement costs to increase by above $300 million. \n\n\nOrganizers:\nAlexis Larousse (CREST)\nSponsors:\nCREST\nLunch registration:\nno registration needed\n\n  \n
URL:https://crest.science/event/david-benatia-strategic-reneging-in-sequential-imperfect-markets/
LOCATION:3105
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