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Yeah I think the theoretical argument is that the uniform clearing price is supposed to incentivize producers to bid at their marginal cost
by nsomani 5y ago
Yeah I think the theoretical argument is that the uniform clearing price is supposed to incentivize producers to bid at their marginal cost
- whatever1 5y agoWhich is a great idea if we had a thousand small producers of roughly equal capacity. It’s a horrible idea (for the consumers) when you have 3 huge players and then some tiny participants.