LEC7_Cournot_Bertrand_2019_post.pdf - Announcements •...

Announcements
• Problem set 1 solutions posted. Please come to office hours if you
have questions!!
• Problem set 2 out on Thursday.
• NO CLASS ON TUESDAY!!
• Readings for today:
• Theory: Lecture notes on Cournot/Bertrand
• Applications: Wolfram (1999) ; Kleir and Linn (2011)

California is an energy policy trail blazer!
• The California Energy Commission plays a critical role in designing,
implementing and crafting policies and programs to create a low-carbon
economy.
• The California Energy Commission’s five basic responsibilities are:
• forecasting future statewide electricity needs and keeping historical data on energy;
• licensing power plants to meet those needs;
• promoting energy efficiency and conservation;
• developing renewable energy resources and alternative energy technologies;
• planning for and directing state response to energy emergencies.
• The Energy Commission also has specific and limited regulatory authority
over the state’s 44 publicly owned utilities

I've written up the steps to applying for the entry-level Energy Analyst position at the California Energy
Commission.
• Apply for the next Energy Analyst exam.
• Here is the 2019 exam schedule . The next application deadline is March 29 for the May 18 exam.
• To apply, fill out the STD 678 form (can be found linked on the schedule) and turn in physical copy
by mail or in-person.
• You will receive two notifications by mail. First, notice that your application has been approved and
second, confirmation of your exam date (with an explanation of the exam).
• Take the in-person exam.
• Wait to receive your exam results. (Can take 6-10 weeks from what I've heard.)
• Once you've passed the exam, then you can start to apply for job openings . Specific instructions &
requirements for each opening are available on the linked page.
I hope this will encourage more students to look into state jobs.
Thanks to Maggie D!

Outline
• Cournot in practice: UK electricity market (Wolfram 1999)
• Bertrand in theory (see notes on bCourses)
• Bertrand in practice: Automotive sector (Kleir and Linn,
2011)

Cournot duopolies and the real world
"Measuring Duopoly Power in the British Electricity Spot Market"
Catherine Wolfram, American Economic Review , 1999.
• Objective: evaluate the applicability of oligopoly models, and the
Cournot duopoly model in particular, to the British electricity market.
• The British were among the first to try to restructure their electricity
market.