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Private management and strategic bidding behavior in electricity markets: Evidence from Colombia

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In this paper I undertake a policy evaluation of the impact of the switch from public to private management of electricity generation units on their price bidding strategies. I draw on information about the bidding strategies of units in the Colombian electricity market to perform a double difference analysis. The evidence observed is coherent with theoretical behavioral predictions for profit maximizing agents facing short positions in forward contracts.

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Universitat de Barcelona. Facultat d'Economia i Empresa

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Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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Private management and strategic bidding behavior in electricity markets: Evidence from Colombia