Quantitative Analysis of Retail Power Market in Japan using a Dynamic Structural Model

2015 Fiscal Year Final Research Report

• Project/Area Number: 25380262
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic statistics
• Research Institution: Hokkaido University
• Principal Investigator: TAKAGI Shingo 北海道大学, 経済学研究科(研究院), 教授 (10326283)
• Project Period (FY): 2013-04-01 – 2016-03-31
• Keywords: 構造推定 / 電力自由化 / パネルデータ

Outline of Final Research Achievements

Empirical studies on the retail power market in Japan in this research project are based on two models; a static model and a dynamic model. The static model features the asymmetricity in the cost information sharing between agents. Under this assumption, we explicitly derive the bidding functions in a mixed strategy equilibrium. Based upon this formulation, we introduce a dynamic setting, where the former auction results affect the current biddings, and also derive the bidding strategy in an MPBE.
We also study on the bias reduction methods for nonlinear panel data models with two-way fixed effects, and examine the finite sample performance of our method.

Free Research Field

計量経済学