@article{oai:chuo-u.repo.nii.ac.jp:00006203,
 author = {Ishii, Masahiro and Tezuka, Koichiro},
 journal = {経済研究所 Discussion Paper, IERCU Discussion Paper},
 month = {May},
 note = {application/pdf, This paper introduces an oligopoly model for  spot prices in non-storable commodity markets under uncertainty. The derived equilibrium spot price captures the effect of market concertration and suppliers' risk attitude on a mark-up. We also propose a simple empirical method to asess mark-ups with the price formulae, and directly apply it to California electricity market as an example. The observed mark-ups are found to depend on both market power and risk premium. The result suggests that the proposed approach can be an effective means of analysis on marke performance, i.e. measuring mark-ups and finding the constituent factors.},
 title = {An Oligopoly Model for Market Performance Analysis with an Application to Electricity Market},
 volume = {226},
 year = {2014}
}