AN EXPERIMENTAL STUDY OF THE PLATO COMPUTERIZED DOUBLE-AUCTION MARKET MECHANISM
AuthorWilliams, Arlington Walton
KeywordsMarketing -- Decision making.
Marketing -- Automation.
Marketing -- Data processing.
Marketing -- Simulation methods.
MetadataShow full item record
PublisherThe University of Arizona.
RightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Degree ProgramGraduate College
Degree GrantorUniversity of Arizona
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Market power in electric power markets: Indications of competitiveness in spatial prices for wholesale electricityDenton, Michael John, 1955- (The University of Arizona., 1997)The issue of market delineation and power in the wholesale electric energy market is explored using three separate approaches: two of these are analyses of spatial pricing data to explore the functional size of the markets, and the third is a series of experimental tests of the effects of different cost structures and market mechanisms on oligopoly strength in those markets. An equilibrium model of spatial network competition is shown to yield linear relationships between spatial prices. A data set comprising two years of spatial weekly peak and off-peak prices and weather for 6 locations in the Western States Coordinating Council and the Southwest Power Pool is subjected to a pairwise cointegration analysis. The use of dummy variables to account the the flow directions is found to significantly improve model performance. The second analytical technique utilizes the extraction of principal components from a spatial price correlation matrix to identify the extent of natural markets. One year of daily price observations for eleven locations within the WSCC is compiled and eigenvectors are extracted and subjected to oblique rotation, each of which is then interpreted as representing a separate geographic market. The results show that two distinct natural markets, correlated at 84%, account for over 96% of the variation in the spatial prices in the WSSC. Together, the findings support the assertion that the wholesale electricity market in the Western U.S. is large and highly competitive. The experimental analysis utilizes a radial three node network in which suppliers located at the outer nodes sell to buyers located at the central node. The parameterization captures the salient characteristics of the existing bulk power markets, and includes cyclical demand, transmission losses, as well as fixed and avoidable fixed costs for all agents. Treatments varied the number of sellers, the avoidable fixed cost structures, and the trading mechanism. Results indicated that sealed bid markets greatly reduced the ability of sellers to exert market power. Overall the existence of higher avoidable fixed costs tended to ameliorate market power effects.
An Inverted Market: Niche Market Dynamics Of The Local Organic Food MovementSchrank, Zachary (The University of Arizona., 2013)The market for local organic foods in the United States has grown tremendously in recent years. Compared to a meager existence just a decade ago, local organic options now flourish through the form of Community Supported Agriculture (CSA), thousands of farmers markets, community cooperative grocery stores, and upscale restaurants. Interestingly, the greatest percentage of growth in farmers markets in the US has occurred in the last 2-3 years during the Great Recession despite economic downturn. This changing nature of agriculture and new developments of alternative niche markets have captured the attention of scholars. Most studies tend to focus on economic, organizational, or even nutritional elements reflected in the food industry. Less emphasis, however, has been devoted to the roles of cultural consumption, values, and desires that have propagated the swift and substantial growth of this movement. Direct sales in local organic niche markets and the CSA model provide an atmosphere for repetitive interpersonal interaction between farmer and buyer around a product infused with shared meaning. I utilize ethnographic data from an extended case of a local organic farm in Southern Arizona and interviews with over 50 of their CSA members. This dissertation addresses how and why both producers and consumers co-produce alternative visions and meanings that sustain a viable local niche food economy. I argue that the members involved in this niche market sector hold unified reactions against the global expansionary aims of food corporations. Inverse to market forces, the cultural and economic ethos driving this movement originates from appreciation for craft production as an expression of commodity de-fetishization, personal investment and embeddedness in local economies, and desires for authenticity in community and consumption.