S Borenstein, JB Bushnell… - The American Economic …, 2002 - ingentaconnect.com
Page 1. Measuring Market Inefficiencies in California's Restructured Wholesale
Electricity Market By SEVERIN BORENSTEIN, JAMES B. BUSHNELL, AND FRANK
A. WOLAK* We present a method for decomposing wholesale ...
S Borenstein… - 1998 - nber.org
We use demand and plant-level cost data to simulate competition in a restructured California
electricity market. This approach recognizes that firms might have an incentive to restrict
output in order to raise price and enables us to explicitly analyze each firm's ability to do ...
S Borenstein, J Bushnell… - 1997 - nber.org
In an unregulated electricity generation market, the degree to which generators in" different
locations compete with one another depends on the capacity to transmit electricity" between
the locations. We study the impact of transmission capacity on competition among" ...
S Borenstein, J Bushnell… - … JOURNAL-CAMBRIDGE MA …, 1999 - ucei.berkeley.edu
Abstract The wave of electricity market restructuring both within the United States and
worldwide has brought the issue of horizontal market power to the forefront. Traditionally,
estimation and prediction of market power has relied heavily on concentration measures. ...
JB Bushnell… - Journal of Regulatory Economics, 1996 - Springer
Page 1. Journal of Regtdatory Economics; 10:61-79 (1996) 9 Kluwer Academic Publishers Electric
Grid Investment Under a Contract Network Regime 1 JAMES B. BUSHNELL STEVEN E. STOFT
University of California Energy Institute 2539 Channing Wa3; Berkeley CA 94720 ...
Page 1. NBER WORKING PAPER SERIES VERTICAL ARRANGEMENTS, MARKET
STRUCTURE, AND COMPETITION: AN ANALYSIS OF RESTRUCTURED US
ELECTRICITY MARKETS James B. Bushnell Erin T. Mansur Celeste Saravia ...
S Borenstein… - 2000 - escholarship.org
Abstract: We discuss the lessons that can be gleaned from the experience with electricity
restructuring to date. The gains from restructuring are most likely to occur through
improvement in the efficiency and prudency of longterm investment, but these benefits will ...
J Bushnell - Operations research, 2003 - JSTOR
This paper presents a modeling framework for analyzing competition between multiple firms
that each possess a mixture of hydroelectric and thermal generation resources. Based upon
the concept of a Cournot oligopoly with a competitive fringe, the model characterizes the ...
S Borenstein, J Bushnell… - 1999 - escholarship.org
Abstract: Effective competition in wholesale electricity markets is the cornerstone of the
deregulation of the electricity generation industry. We examine the degree of competition in
the California wholesale electricity market during June-November 1998 by comparing the ...
JB Bushnell… - Resource and Energy Economics, 1997 - Elsevier
S Borenstein, J Bushnell, E Kahn… - Utilities Policy, 1995 - Elsevier
As the electricity industry in California undergoes a process of fundamental restructuring,
important new products and markets will be created while others will lose significance. In
this paper, we undertake an initial survey of the products and markets that will be ...
J Bushnell - The Electricity Journal, 1999 - Elsevier
In some cases, transmission rights owners can profit by reducing transmission capacity
made available to the competitive market during hours in which there would otherwise be no
congestion. Under the California congestion management process, this can be ...
J Bushnell - Journal of Regulatory Economics, 2007 - Springer
Abstract This paper examines the implications of forward contracting on oligopoly
environments by extending the model of Allaz and Vila to an environment with multiple firms
and increasing marginal cost. Estimates of key parameters of this model are taken from ...
S Borenstein, J Bushnell… - 2000 - nber.org
Effective competition in wholesale electricity markets is a necessary feature of a successful
electricity supply industry restructuring. We examine the degree of competition in the
California wholesale electricity market during the period June 1998 to September 1999 by ...
JB Bushnell… - Journal of Regulatory Economics, 1994 - Springer
Page 1. Journal of Regulatory Economics; 6:5-26 (1994) 9 Kluwer Academic Publishers
Bidder Cost Revelation in Electric Power Auctions JAMES B, BUSHNELL University of
California Energy Institute 2539 Channing Way, Berkeley, CA 94720 ...
J Bushnell - Electricity deregulation: Choices and challenges, 2005 - books.google.com
As the US electricity industry has been transformed over the last twenty-five years, many of
the laws and regulations that had formed the foundation of the industry's organization have
become increasingly ill suited to the task of achieving the policy goals for which they were ...
S Borenstein, J Bushnell,
CR Knittel… - 2001 - nber.org
We study price convergence between the two major markets for wholesale electricity in
California from their deregulation in April 1998 through November 2000, nearly the end of
trading in one market. We would expect profit-maximizing traders to have eliminated ...
J Bushnell - Energy Policy, 2004 - Elsevier
The factors most often cited as the causes of the California crisis are the scarcity of
generation capacity, a flawed market design, and the venality of electricity producers.
However, many of these attributes were present in other electricity markets, none of which ...
J Bushnell… - Presented on the 1999 NBER Summer …, 1999 - papers.ssrn.com
Abstract: Regulators of electricity markets around the world continue to struggle with the
problem of incentivizing generators whose output, due to their location in the grid, has no
viable substitutes. Such generators possess' local'market power. Since these generators ...
JB Bushnell… - 2005 - escholarship.org
Page 1. ...
J Bushnell,
ET Mansur… - 2004 - escholarship.org
Abstract: This paper examines the importance of market characteristics in restructured
electricity markets. We measure market performance relative to benchmarks that abstract
away from market design characteristics but capture important structural elements. ...
JB Bushnell… - The Journal of Industrial Economics, 2005 - Wiley Online Library
Page 1. CONSUMPTION UNDER NOISY PRICE SIGNALS: A STUDY OF ELECTRICITY RETAIL
RATE DEREGULATION IN SAN DIEGOÃ James B. Bushnellw ErinT. Mansurz Utility services
employ nonlinear tariffs that attempt to convey information on cost convexities. ...
J Bushnell, SE Stoft… - 1995 - Citeseer
Abstract This paper concerns itself with the long-run efficiency of a restructured electric
power industry; and therefore with incentives for capital investment both in generation and in
transmission. To date, the debate over restructuring has focussed almost exclusively on ...
S Borenstein, J Bushnell,
CR Knittel… - The Journal of …, 2008 - Wiley Online Library
BORENSTEIN, S., BUSHNELL, J., KNITTEL, CR and WOLFRAM, C.(2008),
INEFFICIENCIES AND MARKET POWER IN FINANCIAL ARBITRAGE: A STUDY OF
CALIFORNIA'S ELECTRICITY MARKETS. The Journal of Industrial Economics, 56: 347– ...
S Borenstein… - 1997 - ucei.berkeley.edu
The foundation for a less-regulated, more competitive electricity industry in California is
currently being developed in several different regulatory and industry forums. If the current
timetables are met, an electricity spot market will begin accepting bids on January 1, 1998. ...
C Francis, J King, J DeWitt, J Bushnell… - 1990 - Cambridge Univ Press
Abstract. Complexity and rapid change in the agricultural industry are pushing us toward
more participatory systems of information development and exchange. These changes are
driven by a rapidly evolving information environment, with a multiplicity of sources and ...
[CITATION] An empirical analysis of market power in a deregulated California electricity market
S Borenstein… - University of California Energy Institute, Berkeley, CA ( …, 1996
J Bushnell - The Electricity Journal, 2005 - Elsevier
Policies designed to ensure resource adequacy in electricity markets have been rooted in a
disparate set of policy goals. Differences over the appropriate goals and focus of such
policies have produced different views about what the appropriate means are for ...
JB Richardson - 1981 - orton.catie.ac.cr
SIDALC - Servicio de Informacion y Documentacion Agropecuaria de las Americas.
J Bushnell, C Day, M Duckworth… - Energy Modeling …, 1999 - emf.stanford.edu
Maximum elasticity of-0.3 Short-run elasticity of demand. Userdefined value; have used
wholesale price elasticities of–0.05,-0.1, and–0.5→ retail price elasticities of roughly–0.125,-
0.25, and–1.25. Price elasticity is assumed at equilibrium in peak hour of each load ...
J Bushnell… - POWER Working Paper PWP-082, University of …, 2001 - Citeseer
Abstract As electricity restructuring proceeds across the US, an increasing number of
customers will find their retail rates more frequently aligned with wholesale price
movements. One early experience with such a practice came in the San Diego Gas and ...
JB Richardson - 1994 - getcited.org
An academic directory and search engine.
J Bushnell, C Peterman… - … Economics and Policy, 2008 - reep.oxfordjournals.org
Abstract This article considers the efficacy of various types of environmental regulations
when they are applied locally to pollutants, such as greenhouse gases, whose damages
extend beyond the jurisdiction of the local regulator. While previous work has noted the ...
JB Bushnell… - Journal of Operations Management, 1995 - Elsevier
J Bushnell… - Utilities Policy, 1997 - Elsevier
The California electricity industry is scheduled to undergo a transition into a less-regulated,
competitive market starting on January 1, 1998. This article provides an overview of the
organization of this market and its general approach for managing transmission access ...
[CITATION] A Cournot-Nash equilibrium analysis of the New Jersey electricity market
S Borenstein, J Bushnell… - New Jersey Board of Public Utilities. Review of …, 1997
S Borenstein, J Bushnell… - 2004 - escholarship.org
Abstract: In recent months, prices for California's special (CaRFG) gasoline have again
exceeded US average prices by much more than the difference in production costs. A
number of observers have attributed the widening average differential to increasing ...
J Bushnell,
BF Hobbs… - The Electricity Journal, 2009 - Elsevier
There is a significant risk of creating conditions that will crowd out true price response by
focusing too much on demand response programs with unverifiable baselines and reliability-
based rather than price-based mechanisms for obtaining consumption reductions.
J Bushnell… - The Electricity Journal, 1996 - Elsevier
The complex externalities associated with grid modification have convinced many that a
regulated body must plan grid modifications. But an appropriate rule for allocating
“transmission congestion contracts” to those who provide grid improvements might allow a ...
J Bushnell,
CR Knittel… - The Journal of Industrial …, 1999 - customersfirst.org
Executive Summary In this paper, we examine the ability of electric generation firms to
exercise market power in a restructured Wisconsin electricity market. We assume that the
market in Wisconsin is restructured in a fashion similar to markets in New England, New ...
JB Bushnell… - 2009 - nber.org
Page 1. NBER WORKING PAPER SERIES REGULATION, ALLOCATION, AND
LEAKAGE IN CAP-AND-TRADE MARKETS FOR CO2 James B. Bushnell Yihsu
Chen Working Paper 15495 http://www.nber.org/papers/w15495 ...
JB Bushnell - 2011 - nber.org
Page 1. The Economics of Carbon Offsets James B. Bushnell ∗ September, 2011 Abstract
Although international programs for carbon offsets play an important role in current and
prospective climate-change policy, they continue to be very controversial. ...
C Blumstein… - The Electricity Journal, 1994 - Elsevier
Abstract The California Public Utilities Commission's proposal to restructure the electricity
industry in that state has implications that must be explicitly identified and addressed. Here
is a short list of issues that should be confronted forthrightly as the process goes forward.
J Bushnell - University of California Energy Institute, 2000 - ucei.berkeley.edu
One of the key characteristics that differentiates markets for electricity from those for most
other commodities is the lack of a means to economically store the product. Hydro electric
resources provide the primary, and most significant, exception to the conventional ...
JB Bushnell, H Chong… - 2009 - nber.org
Page 1. NBER WORKING PAPER SERIES PROFITING FROM REGULATION: AN EVENT
STUDY OF THE EU CARBON MARKET James B. Bushnell Howard Chong Erin T. Mansur
Working Paper 15572 http://www.nber.org/papers/w15572 ...
[CITATION] An Empirical Analysis of the Competitiveness of the New England Electricity Market
JB Bushnell… - 2002 - … Institute. May. Available at www. ucei …
[CITATION] A Cournot-Nash Equilibrium Analysis of the New Jersey Electricity Market. New Jersey Board of Public Utilities
S Borenstein, J Bushnell… - Review of Public Utilities Restructuring Petition, 1997
J Bushnell, C Peterman… - 2007 - nber.org
This paper considers the efficiency of various types of environmental regulations when they
are applied locally to pollutants whose damages extend outside the jurisdiction of the local
regulator. We draw on examples from state-and city-level efforts to address climate ...
JB Bushnell… - Unpublished paper, University of California at …, 2006 - nber.org
Page 1. The Economic Effects of Vintage Differentiated Regulations: The Case of
New Source Review James B. Bushnell and Catherine Wolfram* July 2006 Abstract
This paper analyzes the effects of the New Source Review ...
[CITATION] Frank Wolak (2000): Diagnosing Market Power in California's Deregulated Wholesale Electricity Market
S Borenstein… - 2005 - PWP-064, University of California …
[CITATION] A National Perspective on Allocating the Costs of New Transmission Investment: Practice and Principles
RAB Baldick, J Bushnell, S Tierney… - … group for investment in reliable and …, 2007
BF Hobbs, J Bushnell… - Energy Policy, 2010 - Elsevier
In electricity,“downstream” CO2 regulation requires retail suppliers to buy energy from a mix
of sources so that their weighted emissions satisfy a standard. It has been argued that such
“load-based” regulation would solve emissions leakage, cost consumers less, and provide ...
[CITATION] Market Structure and Competition: A cross-market analysis of US Electricity Restructuring
J Bushnell, E Mansur… - CSEM-126r.(http://www. ucei. berkeley. edu/PDF/ …, 2004
[CITATION] Ownership Change, Incentives and Plant Efficiency: The Divesture of US Generation Plants
JB Bushnell… - University of California Energy Institute, Working Paper, 2005
JB Bushnell… - ENERGY JOURNAL-CAMBRIDGE MA …, 1994 - ieor.berkeley.edu
Page 1. Incentive Effects of Environmental Adders in Electric Power Auctions* James B.
Bushnell** and Shmuel S. Oren*** We make a systematic examination of the options for
incorporating environmental adders into auctions for non-utility generation. ...
JB Bushnell… - The American Economic Review, 2011 - ingentaconnect.com
... Fullerton, Don, and Dan Karney. 2011. “Negative Leakage.” Unpublished. Hobbs, Benjamin,
James Bushnell, and Frank Wolak. 2010. “Upstream vs. Downstream CO2 Trading: A Comparison
for the Electricity Context.” Energy Policy, 38(7): 3632–43. Mansur, Erin. Forthcoming. ...
J Bushnell - Climate Policy, 2008 - Taylor & Francis
California is considering the adoption of a cap-and-trade regulatory mechanism for
regulating the greenhouse gas emissions from electricity and perhaps other industries. Two
options have been widely discussed for implementing cap-and-trade in the electricity ...
[CITATION] Market power in electricity markets
S BORENSTEIN, J BUSHNELL, E KAHN… - 1996 - UCEI POWER working paper PWP- …
J Bushnell, H Chong… - 2009 - papers.ssrn.com
Abstract: Tradable permit regulations have recently been implemented for climate change
policy in many countries. One of the first mandatory markets was the EU Emission Trading
Scheme, whose first phase ran from 2005-07. Unlike taxes, permits expose firms to ...
FA Wolak… - A Report prepared for the Market Surveillance …, 1999 - caiso.com
In its August report on the operation of the ancillary service markets of the ISO, the Market
Surveillance Committee (MSC) expressed serious concern over the impact of reliability must-
run (RMR) contracts on the competitiveness of these markets. These concerns were ...
[CITATION] Transmission and generation investment in a competitive electric power industry, California Energy Commission
J Bushnell… - Power Working Paper, 1995
JB Bushnell… - 1993 - sunsite.berkeley.edu
Two Dimensional Auctions for Efficient Franchising of Public Monopolies. James
Bushnell and Shmuel Oren ERL-93-41 We consider the problem of a regulator who
wishes to award an exclusive supply contract to one of several ...
J Bushnell - 2002 - ucei.berkeley.edu
Page 1. University of California Energy Institute Water and Power: Hydro Electric Resources in
the Era of Competition James Bushnell University of California Energy Institute Page 2. University
of California Energy Institute Outline • Misconceptions about hydro resources ...
[CITATION] Measuring market inefficiencies in California's wholesale electricity industry
B Severin, B James… - American Economic Review, 2002
[CITATION] fram (2005): mIneffi ciencies and Market Power in Financial Arbitrage: A Study of Californials Electricity Markets, nMimeo, Haas School of Business
S Borenstein, J Bushnell, CR Knittel… - University of California at Berkeley
J Bushnell… - 1996 - en.scientificcommons.org
[CITATION] Regulation and Local Market Power in the California Electricity Market
J Bushnell… - Power Working Paper, PWP-070, UCEI, 1999
J Bushnell… - Iowa State University Department of Economics …, 2010 - Citeseer
Abstract This paper analyzes the effects of the New Source Review (NSR) environmental
regulations on coal-fired electric power plants. Regulations that grew out of the Clean Air Act
of 1970 required new electric generating plants to install costly pollution control ...
[CITATION] October 1999.“Transmission Rights and Market Power.”
J Bushnell - The Electricity Journal
[CITATION] und Celeste Saravia (2005): Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured US Electricity Markets
J Bushnell… - CSEM WP
[CITATION] The Competitive Effects of Transmission Capacity in a Deregulated Wholesale Electricity Market
S Borenstein, J Bushnell… - Rand Journal of Economics, 2000
JB Bushnell… - 2009 - nber.org
Page 1. This PDF is a selection from a published volume from the National Bureau of Economic
Research Volume Title: International Differences in the Business Practices and Productivity of
Firms Volume Author/Editor: Richard B. Freeman and Kathryn L. Shaw, editors ...
BF Hobbs, J Bushnell… - Energy Market (EEM), 2010 …, 2010 - ieeexplore.ieee.org
Abstract Load-based trading of CO 2 places responsibility for reducing emissions upon retail
suppliers of electricity by requiring them to buy energy from a mix of sources so that their
weighted emissions do not exceed a given standard. It has been argued that load-based ...
[CITATION] Diagnosing Market Power in California's Restructured Wholesale Energy Market
S Borenstein, J Bushnell… - 2000 - paper
S Borenstein, J Bushnell,
C Knittel… - 2001 - econ.ucdavis.edu
Abstract We study price convergence between the different markets for wholesale electricity
in California from their deregulation in April 1998 through the halt in trading in one market in
December 2000. Profit-maximizing traders should have eliminated persistent differences ...
J Bushnell, C Peterman… - 2008 - Citeseer
Abstract California is implementing a broad portfolio of regulations aimed at reducing
greenhouse gas emissions. However, many of these policies, if undertaken without the
cooperation of neighboring states may result in far less reductions in emissions than the ...
S Borenstein, J Bushnell,
CR Knittel… - … Draft (November 7), 2000 - ucei.berkeley.edu
Abstract We study price convergence between the different markets within the dereguЛ lated
California wholesale electricity industry during its first 28 months of operaЛ tion.
ProfitЛmaximizing traders should eliminate persistent differences in the price of power ...
MM Jacobs, JB Richardson… - 1983 - getcited.org
An academic directory and search engine.
[CITATION] Supplement to The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry: Thin Lines and Mixed-strategy Equilibria
S Borenstein, JB Bushnell, S Stoft… - 1998
[CITATION] The Archaeological Significance of the Mausoleums in the Allegheny and Homewood Cemeteries of Pittsburgh: A Preliminary Statement
JB Richardson… - 1980 - The Association
[CITATION] Third Report on Market Issues in the California Power Exchange Energy Markets: The Impact of Reliability Must-run Contract Reform and Ancillary- …
JB Bushnell, AK Klevorick, R Wilmouth… - 2000 - University of California Energy …
J Bushnell - 2011 - papers.ssrn.com
This intriguing chapter explores two important central questions regarding climate change
and the agricultural sector. First, how will changing climate conditions effect the productivity
of the sector? Second, how will the sector be able to adapt to mitigate the impacts of ...
J Bushnell… - Staff General Research Papers, 2010 - ideas.repec.org
The allocation or assignment of emissions allowances is among the most contentious
elements of the design of emissions trading systems. Policy-makers usually try to satisfy a
range of goals through the allocation process, including easing the transition costs for ...
FA Wolak… - 2010 - caiso.com
Summary The Federal Energy Regulatory Commission (the Commission) asked the Market
Surveillance Committee of the California Independent System Operator (ISO) to prepare a
report on the performance of the ISO's local market power mitigation (LMPM) mechanism ...
[CITATION] Autobiography of James Addison Bushnell, 1826-1912
JA Bushnell… - 1959 - Lane County Pioneer-Historical …
J Bushnell… - Staff General Research Papers, 2008 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Electricity Markets. James Bushnell () and Catherine Wolfram. ...
[CITATION] Empires Emerging: Collecting the Peruvian Past: September 20, 1997-April 26, 1998
SL Whittington, JB Richardson… - 1998 - Hudson Museum, University of …
JB Bushnell - 2011 - 210.114.108.30
... [17] Fullerton, Don and Dan Karney. 2011. “Negative Leakage,” Working Paper, Univer- sity of
Illinois. [18] Hobbs, Benjamin, James Bushnell, and Frank Wolak. 2010. “Upstream vs. Down-
stream CO2 Trading: A Comparison for the Electricity Context.” Energy Policy, ...
[CITATION] The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry: Final Report
S Borenstein, J Bushnell, S Stoft… - 1996 - University of California Energy …
J Bushnell… - 1997 - ucei.berkeley.edu
The electric systems of at least the three largest investor owned utilities (IOUs) in California
are scheduled to be combined into a single, more competitive, market structure by January,
1998. This article discusses the proposed organization of the transmission and spot ...
J Bushnell - 2011 - papers.ssrn.com
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[CITATION] ACADEMIC EXECUTIVE OFFICERS, 1965-66 Academic Secretary: H. Donald Winbigler Business, Graduate School of: Ernest C. Ar-buckle, Dean; …
K Cooper, R Rosenzweig, J Glaser… - …, 1965 - Stanford University.
JB Bushnell… - 1994 - Citeseer
Page 1. Incentive E ects of Environmental Adders in Auctions for Electric Power
James B. Bushnell and Shmuel S. Oren January 4, 1994 Abstract We show that
adders mess up things 1 Introduction Public Utility Commissions ...
JB Bushnell - Staff General Research Papers, 2011 - uce3.ucsb.edu
Page 1. E 3 WP-018 Adverse Selection and Emissions Offsets James B. Bushnell
September 2011 This paper is part of the UC Center for Energy and Environmental
Economics Working Paper Series. UCE 3 is a joint venture ...
[CITATION] Incentive E ects of Environmental Adders in
JB Bushnell… - 1994
JB Bushnell, H Chong… - 2011 - dartmouth.edu
Page 1. Profiting from Regulation: Evidence from the European Carbon Market James
B. Bushnell, Howard Chong, and Erin T. Mansur∗ November 2011 Abstract We
investigate how cap-and-trade regulation affects profits. In ...
[CITATION] A Readers Guide to the Bluebook: Issues in California's Electric Industry Restructuring and Reform
C Blumstein, JB Bushnell, S Borenstein… - 1994 - University of California Energy …
J Bushnell… - NBER Book Chapter, 2009 - papers.ssrn.com
In this chapter, we explore the impact of labor policies on the operations of electric power
plants. At first glance, it might seem that workers should have little scope to influence the
performance of the electricity industry and that this should be particularly true of the ...
C Knittel, C Wolfram, J Bushnell… - Working Papers, 2006 - ideas.repec.org
As with other commodities, electricity is often traded on both forward and spot markets. This
was initially true in the restructured California electricity industry from 1998 to 2000. Though
the power traded in the forward and spot markets was for delivery at the same times and ...
[CITATION] Empires Emerging: Collecting the Peruvian Past
JB Richardson, SL Whittington… - 1998 - Hudson Museum, University of …
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