A two-stage market with recourse, including DC network constraints, has a sequential competitive equilibrium, and under congestion-free or monopoly-free conditions its bidding game has an efficient Nash equilibrium.
A two-stage market mechanism for electricity with renewable generation,
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Two-Stage Electricity Markets with Renewable Energy Integration: Market Mechanisms and Equilibrium Analysis
A two-stage market with recourse, including DC network constraints, has a sequential competitive equilibrium, and under congestion-free or monopoly-free conditions its bidding game has an efficient Nash equilibrium.