Strategic Behavior and Collusion: An Application to the Spanish Electricity Market

The paper has two major contributions to the theory of repeated games. First, we build a supergame oligopoly model where firms compete in supply functions, we show how collusion sustainability is affected by the presence of a convex cost function, the magnitude of both the slope of demand market, and the number of rivals. Then, we compare the results with those of the traditional Cournot reversion under the same structural characteristics. We find how depending on the number of firms and the slope of the linear demand, collusion sustainability is easier under supply function than under Cournot competition. The conclusions of the models are simulated with data from the Spanish wholesale electricity market to predict lower bounds of the discount factors.

A predictive model of the export behaviour of small and medium sized firms: an application to the case of Castilla-La Mancha

[EN] Based on an extensive theoretical review, the aim of this paper is to carry out a closer examination of the differences between exporters according to their commitment to the international market. Once the main disparities are identified by means of a non-parametric test, a logistic analysis based upon data collected from small and medium sized manufacturing firms is conducted in order to construct a classificatory model.

The Economics of Gasification: A Market-Based Approach

This paper deals with the economics of gasification facilities in general and IGCC power plants in particular. Regarding the prospects of these systems, passing the technological test is one thing, passing the economic test can be quite another. In this respect, traditional valuations assume constant input and/or output prices. Since this is hardly realistic, we allow for uncertainty in prices. We naturally look at the markets where many of the products involved are regularly traded. Futures markets on commodities are particularly useful for valuing uncertain future cash flows. Thus, revenues and variable costs can be assessed by means of sound financial concepts and actual market data. On the other hand, these complex systems provide a number of flexibility options (e.g., to choose among several inputs, outputs, modes of operation, etc.). Typically, flexibility contributes significantly to the overall value of real assets. Indeed, maximization of the asset value requires the optimal exercise of any flexibility option available. Yet the economic value of flexibility is elusive, the more so under (price) uncertainty. And the right choice of input fuels and/or output products is a main concern for the facility managers. As a particular application, we deal with the valuation of input flexibility. We follow the Real Options approach. In addition to economic variables, we also address technical and environmental issues such as energy efficiency, utility performance characteristics and emissions (note that carbon constraints are looming). Lastly, a brief introduction to some stochastic processes suitable for valuation purposes is provided.

Desarrollo de cliente OMA PoC para Android

[ES]Se presenta el siguiente proyecto de desarrollo, enfocado en el contexto de suplir las necesidades de los equipos de emergencias. Actualmente los equipos de emergencias, hacen uso de walkie talkies para comunicarse entre sí, es decir, hacen uso de la tecnología PTT (Push-to-talk). Es una comunicación unidireccional de un usuario a muchos, de manera que pueden transmitir la información necesaria a varios usuarios simultáneamente. Por otra parte, la comunicación mediante esta tecnología hace posible que sea en tiempo real sin prácticamente ningún retraso. Sin embargo el uso de esta forma de comunicación trae consigo algunos inconvenientes. Por ejemplo, los dispositivos tienen un rango de alcance de transmisión-recepción limitado. Además la banda de frecuencia para poder comunicarse debe ser reservada a fin de evitar posibles problemas de comunicación debido a que el canal estuviera ocupado por otros usuarios, posibles interferencias, etc. La reserva de este rango de frecuencia, supone un coste añadido para el uso de esta tecnología. Con el desarrollo de las redes móviles que ofrecen grandes velocidades de transmisión, se hace posible el uso de la tecnología PTT mediante la red móvil existente. De esta manera, surge el siguiente proyecto de desarrollo de una aplicación móvil Android, como cliente que haga uso de la tecnología PTT sobre la red móvil PoC (Push-to-talk Over Cellular).