Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond

By A. Kahn, Peter Cramton, R. Porter, R. Tabors. 2001

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Setting the Operating Reserve Using Probabilistic Wind Power Forecasts (2011, background): “The bids for selling reserve are paid at the bid price or by the marginal price [36].”
Modeling Electricity Auctions (2002, background): “…and discriminatory auctions for electricity, based on results from the general auction literature.27 In their report for the California PX (see Kahn et al., 2001) they concluded that the proposed shift from a uniform to a discriminatory auction was illadvised, and unlikely to result in lower…”
Balancing power and variable renewables: Three links (2015, background): “Kahn et al. (2001) and Müsgens et al. (2011) argue that payas-bid pricing should be replaced by uniform pricing as it is more robust against uncertainty, reduces information asymmetry between companies, and mitigates market power.”
Discriminatory Versus Uniform-Price Electricity Auctions with Supply Function Equilibrium (2009, background): “1 1 1 1 ( )( 1 / 2) ( ) ( ) ( )( 1 / 2) p c k l p p k F p p c k l − − + − − = − − + (11).”