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Such generators possess ‘local monopoly power, and in deregulated settings have frequently been able to extract significant rents from their advantageous locations within a power system. Sinc...
We use highway procurement data from Michigan to study the e§ect of Örmsídistances to the auction site on participation and bidding decisions. Motivated by ìreduced for evidence, we acco...
We study the emergence of instabilities in a stylized model of a nancial market, when di erent market actors calculate prices according to di erent (local) market measures. We derive typical propert...

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