A pricing mechanism to jointly mitigate market power and environmental externalities in electricity markets
针对电力市场同时面临市场势力与环境外部性的挑战，提出一种基于激励的市场出清机制，利用不完全信息下的电网模型，克服价格上限的不足。
The electricity industry has been one of the first to face technological changes motivated by sustainability concerns. Whilst efficiency aspects of market design have tended to focus upon market power concerns, the new policy challenges emphasise sustainability. We argue that market designs need to develop remedies for market conduct integrated with regard to environmental externalities. Accordingly, we develop an incentive-based market clearing mechanism using a power network representation with a distinctive feature of incomplete information regarding generation costs. The shortcomings of price caps to mitigate market power, in this context, are overcome with the proposed mechanism.