Mixed Oligopoly and Market Power Mitigation: Evidence from the Colombian Wholesale Electricity Market*
利用哥伦比亚电力批发市场的报价数据，识别了公共企业对市场势力的缓解效应，发现私营企业行使的市场势力低于利润最大化模型预测，且公私企业间存在显著差异。
Using information on price bids in wholesale electricity pools and empirical techniques described in the literature on electricity markets, this study identifies the market power mitigation effect of public firms in the Colombian market. The results suggest that while private firms exercise less market power than is predicted by a profit‐maximization model, there are marked differences between private and public firms in their exercise of unilateral market power. These findings support the hypothesis of the market power mitigation effect of public firms.