• Environmental and Resource Economics Review
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• v.11 no.2
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• pp.291-319
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• 2002

This Paper investigates imperfect competition and economy of scale on Korean energy markets based on computable general equilibrium model. Some industries like energy sector have exhibited that their economies have strong economies of scale and imperfect competition. Thus these industrial organization facts should be incorporated into CGE model. In our model, non-competitive markets are adopted and compare these results with convention perfect competition model.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.8
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• pp.403-408
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• 2002

As the electricity industry undergoes a process of fundamental restructuring, horizontal market power appears as a potential obstacle to a fully competitive wholesale electricity market. Market power is the ability profitably to maintain prices above competitive levels by restricting output below competitive levels. In models for imperfect competition under the consideration of the transmission constraints, the Nash equilibrium has the form of a mixed strategy. In this paper, the models for analyzing imperfect competition are compared using the solution of pure and mixed equilibria. The relation between market power and the capacity of a transmission line is investigated by imperfect competition analysis methods: Cournot, Bertrand, and Supply Curve model.

• Environmental and Resource Economics Review
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• v.19 no.1
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• pp.3-21
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• 2010

By the significant structural change in 1999, a partial privatization has occurred in Korean fossil-fuel power generation sector. Under the current price scheme wholesale electricity price is dependent on output size, and hence, may not satisfy the assumption of price-taking producers. The purpose of our study is constructing the productivity change measurements of Korean power generation sector taking into account possibly imperfect competition and variable returns to scale. Our approach based on Harrison (1994) and Levinsohn (1993) derives the plant-level productivity measurements of the period between 2001 and 2007, as well as the measurements of mark-ups and returns to scale. It is shown that the mark-up size is dependent on the plants' fuel type and is decreasing over time. Allowing for imperfect competition and variable returns to scale adjusts the productivity measurements substantially.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7788-7793
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• 2015

Both export and import sides of grain trade market are analyzed and compared in terms of the static levels and dynamic trends to make new empirical inference on the imperfect competition degree. Export concentration level is high compared to import concentration level. And such states have been sustained since 2001 until 2014. Unlike public concerns, the concentration level of export side seems to be easing by small degree. However, the grain trade market remains imperfect competitive market. Furthermore, overall imperfective competition condition over 2002-2014 has been worsened compared to 2001 level. It is because the reduction level of imports concentration is higher than that of the export concentration. Gini and Atkinson Inequality Index based on Lorenz Curve are newly utilized to analyze market concentration level, instead of the commonly used concentration ratio.

• Journal of Korean Institute of Industrial Engineers
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• v.20 no.1
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• pp.113-120
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• 1994

A duopoly model is developed in order to examine the effect of imperfect competition on the price-setting behavior of competing providers in a congested market. Multiple Nash price equilibria are found and the implications of such multiple price equilibria are discussed.

• KDI Journal of Economic Policy
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• v.34 no.2
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• pp.173-204
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• 2012

This study examines the equilibrium investment on the pollution abatement when firms are facing Cournot competition in the output market while the pollution permit market is perfectly competitive. Unlike standard perfect competition scenario, the abatement investment delivers an indirect effect in which it reduces other firms' equilibrium output. Consequently, compared with the socially optimal level, overinvestment arises. I also overview the potential inefficiencies that imperfect market structure induces under the emission trading scheme, presenting policy implications.

• Korean Journal of Organic Agriculture
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• v.23 no.4
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• pp.683-702
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• 2015

The static status and dynamic trend of the market structure in the international wheat trade market are empirically analyzed. The export inequality level empirically proved to be high compared to import inequality level. And such states have been maintained since 2001 until 2014. Although the concentration level of export side seems to be easing, the international wheat market remains imperfect competitive market. Moreover, overall imperfect competitive status over 2002-2014 has been worsened compared to 2001 level. The main reasons are that the overall trends of the imports concentration is reduced more than those of the export concentration level.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.778-780
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• 2005

Electric power industry throughout the world is restructured. The electric power industry has a characteristics of an oligopoly with an imperfect competition. In Korea rules, all information is not available. So the strategy under such incomplete information market differ firm those under complete information system in game theory. This paper presents a analysis technique if Korea ma rket model with incomplete information.

• Journal of Energy Engineering
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• v.8 no.4
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• pp.505-511
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• 1999

One of the major challenges confronting a multiservice electric utility is the establishment of the right prices, for its services. The key objectives of particular pricing schemes are reasonableness of company earnings. Economic efficiency, the responsiveness of supply and of the allocation of sources to the desires of consumers, and maintenance of some degree of competition. This paper proposes a value-based pricing mechanism amenable to the current deregulation situation in electricity market allowing service differentiation. The proposed pricing mechanism can be implemented ina nodal auction model, and can also be applied to direct load control.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.12
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• pp.2143-2149
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• 2010

Market price and curtailment amounts of the Demand Resource Market(DRM) are determined by competition between electricity consumers. An important aspect of the DRM involves the assessment of strategic behavior of participants for maximizing their profits. This paper presents economic equilibrium models for simulating imperfect competition among electricity consumers in the DRM and analyzes the models at Nash Equilibrium of Game Theory. The proposed demand functions and supply functions of DRM are based on the Demand Resource Market Rules in Korean electricity market. Simulation results show that the models are adequate for obtaining Nash Equilibrium of consumers' competitive curtailment.