{"id":"https://openalex.org/W2008156261","doi":"https://doi.org/10.1080/10168730000000017","title":"AN EMPIRICAL ANALYSIS OF THE IMPACT OF HEDGE CONTRACTS ON BIDDING BEHAVIOR IN A COMPETITIVE ELECTRICITY MARKET *","display_name":"AN EMPIRICAL ANALYSIS OF THE IMPACT OF HEDGE CONTRACTS ON BIDDING BEHAVIOR IN A COMPETITIVE ELECTRICITY MARKET *","publication_year":2000,"publication_date":"2000-06-01","ids":{"openalex":"https://openalex.org/W2008156261","doi":"https://doi.org/10.1080/10168730000000017","mag":"2008156261"},"language":"en","primary_location":{"id":"doi:10.1080/10168730000000017","doi":"https://doi.org/10.1080/10168730000000017","is_oa":false,"landing_page_url":"https://doi.org/10.1080/10168730000000017","pdf_url":null,"source":{"id":"https://openalex.org/S22431819","display_name":"International Economic Journal","issn_l":"1016-8737","issn":["1016-8737","1743-517X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","kci-registered","norway-1","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Economic Journal","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5039996292","display_name":"Frank A. Wolak","orcid":"https://orcid.org/0000-0002-2884-223X","observed_orcids":["https://orcid.org/0000-0002-2884-223X"]},"institutions":[{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Frank A. Wolak","raw_affiliation_strings":["Stanford University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Stanford University","institution_ids":["https://openalex.org/I97018004"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5039996292"],"corresponding_institution_ids":["https://openalex.org/I97018004"],"apc_list":null,"apc_paid":null,"fwci":13.1008,"has_fulltext":false,"cited_by_count":387,"citation_normalized_percentile":{"value":0.99122035,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":100},"biblio":{"volume":"14","issue":"2","first_page":"1","last_page":"39"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-power","display_name":"market power","score":0.7680000066757202},{"id":"https://openalex.org/keywords/bidding-behavior","display_name":"bidding behavior","score":0.8450000286102295},{"id":"https://openalex.org/keywords/wholesale-electricity-market","display_name":"wholesale electricity market","score":0.7889999747276306},{"id":"https://openalex.org/keywords/power-generating-units","display_name":"power generation units","score":0.5410000085830688},{"id":"https://openalex.org/keywords/profit-maximization","display_name":"profit maximization","score":0.6819999814033508},{"id":"https://openalex.org/keywords/national-electricity-market","display_name":"National Electricity Market","score":0.6660000085830688},{"id":"https://openalex.org/keywords/electricity-market-design","display_name":"electricity market design","score":0.6790000200271606}],"concepts":[{"id":"https://openalex.org/C9233905","wikidata":"https://www.wikidata.org/wiki/Q3276328","display_name":"Bidding","level":2,"score":0.8482937812805176},{"id":"https://openalex.org/C70771513","wikidata":"https://www.wikidata.org/wiki/Q235779","display_name":"Hedge","level":2,"score":0.7624653577804565},{"id":"https://openalex.org/C146733006","wikidata":"https://www.wikidata.org/wiki/Q676081","display_name":"Electricity market","level":3,"score":0.7216493487358093},{"id":"https://openalex.org/C175223733","wikidata":"https://www.wikidata.org/wiki/Q1047888","display_name":"Spot contract","level":3,"score":0.5530303120613098},{"id":"https://openalex.org/C2776789725","wikidata":"https://www.wikidata.org/wiki/Q1572221","display_name":"Spot market","level":3,"score":0.5411857962608337},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.5133987665176392},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.494928777217865},{"id":"https://openalex.org/C206658404","wikidata":"https://www.wikidata.org/wiki/Q12725","display_name":"Electricity","level":2,"score":0.4913252890110016},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4901772141456604},{"id":"https://openalex.org/C38904191","wikidata":"https://www.wikidata.org/wiki/Q744762","display_name":"Forward contract","level":3,"score":0.4620598554611206},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4432012438774109},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.27070310711860657},{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.11943709850311279},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C119599485","wikidata":"https://www.wikidata.org/wiki/Q43035","display_name":"Electrical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.1080/10168730000000017","doi":"https://doi.org/10.1080/10168730000000017","is_oa":false,"landing_page_url":"https://doi.org/10.1080/10168730000000017","pdf_url":null,"source":{"id":"https://openalex.org/S22431819","display_name":"International Economic Journal","issn_l":"1016-8737","issn":["1016-8737","1743-517X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","kci-registered","norway-1","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Economic Journal","raw_type":"journal-article"},{"id":"doi:10.1080/10168730000080009","doi":"https://doi.org/10.1080/10168730000080009","is_oa":false,"landing_page_url":"https://doi.org/10.1080/10168730000080009","pdf_url":null,"source":{"id":"https://openalex.org/S22431819","display_name":"International Economic Journal","issn_l":"1016-8737","issn":["1016-8737","1743-517X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","kci-registered","norway-1","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Economic Journal","raw_type":"journal-article"},{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-016905231","doi":null,"is_oa":false,"landing_page_url":"http://papers.nber.org/papers/w8212.pdf","pdf_url":"http://papers.nber.org/papers/w8212.pdf","source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.197.9333","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.197.9333","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://faculty-gsb.stanford.edu/wilson/archive/e542/classfiles/wolak_hedges_australia.pdf","raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.37.1584","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.37.1584","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"ftp://zia.stanford.edu/pub/papers/contract.pdf","raw_type":"text"},{"id":"pmh:oai:RePEc:taf:intecj:v:14:y:2000:i:2:p:1-39","doi":null,"is_oa":false,"landing_page_url":"http://www.tandfonline.com/doi/abs/10.1080/10168730000000017","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Affordable and clean energy","id":"https://metadata.un.org/sdg/7","score":0.8485000133514404}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":5,"referenced_works":["https://openalex.org/W1553678443","https://openalex.org/W1584156456","https://openalex.org/W2047531301","https://openalex.org/W2067673416","https://openalex.org/W2148324119"],"related_works":["https://openalex.org/W7097438908","https://openalex.org/W7099015394","https://openalex.org/W2999835286","https://openalex.org/W3124686995","https://openalex.org/W2551528278","https://openalex.org/W2086382166","https://openalex.org/W1638650707","https://openalex.org/W2351228290","https://openalex.org/W2289068975","https://openalex.org/W2087494362"],"abstract_inverted_index":{"A":[0],"major":[1],"concern":[2],"in":[3,47,66,130],"the":[4,11,14,26,59,62,67,85,118,125,135,143,151,161,175],"design":[5],"of":[6,16,28,44,56,61,122,124,137,145,163,178,180],"wholesale":[7,182],"electricity":[8,50,63,183],"markets":[9],"is":[10,37,80,109],"potential":[12],"for":[13,99,160],"exercise":[15],"market":[17,32,51,71,87,172],"power":[18,33,173],"by":[19,95,150],"generating":[20,29,152],"unit":[21,30,153],"owners.":[22],"To":[23],"better":[24],"understand":[25],"determinants":[27],"owner":[31],"and":[34,58,103,113],"how":[35],"it":[36],"exercised,":[38],"this":[39],"paper":[40],"derives":[41],"a":[42,48,90,168,181],"model":[43,79,108],"bidding":[45,76,97,140],"behavior":[46],"competitive":[49],"which":[52],"incorporates":[53],"various":[54],"sources":[55],"uncertainty":[57],"impact":[60],"generator's":[64],"position":[65],"financial":[68,146,164],"hedge":[69,101,147,165],"contract":[70,102,114],"on":[72],"its":[73,96],"expected":[74,138],"profit-maximizing":[75,86,139],"behavior.":[77],"The":[78],"first":[81,119],"used":[82],"to":[83,111,142,170],"characterize":[84],"price":[88],"that":[89],"generator":[91],"would":[92],"like":[93],"set":[94],"strategy":[98],"several":[100],"spot":[104],"sales":[105],"combinations.":[106],"This":[107,132],"applied":[110],"bid":[112],"data":[115],"obtained":[116],"from":[117],"three":[120],"months":[121],"operation":[123,179],"National":[126],"Electricity":[127],"Market":[128],"(NEM1)":[129],"Australia.":[131],"analysis":[133],"illustrates":[134],"sensitivity":[136],"strategies":[141],"amount":[144],"contracts":[148,166],"held":[149],"owner.":[154],"It":[155],"also":[156],"provides":[157],"strong":[158],"evidence":[159],"effectiveness":[162],"as":[167],"means":[169],"mitigate":[171],"during":[174],"initial":[176],"stages":[177],"market.":[184],"[L":[185],"94]":[186]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":12},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":15},{"year":2022,"cited_by_count":16},{"year":2021,"cited_by_count":21},{"year":2020,"cited_by_count":15},{"year":2019,"cited_by_count":18},{"year":2018,"cited_by_count":11},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":15},{"year":2015,"cited_by_count":16},{"year":2014,"cited_by_count":11},{"year":2013,"cited_by_count":19},{"year":2012,"cited_by_count":12}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2016-06-24T00:00:00"}