The Smart Grid, Entry, and Imperfect Competition in Electricity Markets

Hunt Allcott

NBER Working Paper No. 18071
Issued in May 2012

---- Acknowledgements -----

I thank, without implicating, Susan Athey, Severin Borenstein, Eric Budish, Drew Fudenberg, Michael Greenstone, Bill Hogan, Steven Joyce, Erin Mansur, Erich Muehlegger, Sendhil Mullainathan, Chris Nosko, Ariel Pakes, Rob Stavins, Frank Wolak, and seminar participants at Carnegie Mellon, Duke, Georgetown, Harvard, IBS Hyderabad, Michigan, NYU, NYU Stern, Notre Dame, Resources for the Future, Stanford GSB, Stanford MS&E, Tufts, and UC Davis. Joe Bowring, Howard Haas, Ellen Krawiec, and Matt Thompson of Monitoring Analytics facilitated my access to the bidding and cost data and provided valuable insights on the PJM market. I thank Sam Newell, Harvey Reed, Alex Rudkevich, Paul Sotkiewicz, and Assef Zobian for helpful conversations on the details of restructured electricity markets. Financial support is acknowledged from the Harvard University Center for the Environment and from Harvard’s Mossavar-Rahmani Center for Business and Government. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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