Abstract: We investigate the strategic behavior of wind producers in the presence of uncertain wind resource availability, where wind availability is correlated across firms. We study how the level of correlation between different firms’ wind resources impacts strategy and market outcomes. The main insight of our analysis is that increasing heterogeneity in resource availability improves social welfare, as a function of its effects both on improving diversification and on reducing withholding by firms. We show that this insight is robust for common assumptions regarding electricity demand. The model is also used to analyze the effect of wind resource heterogeneity on firm profits and opportunities for collusion. Finally, we analyze the impacts of improving public information and weather forecasting; enhanced public forecasting increases welfare, but it is not always in the best interests of strategic producers.

中文翻译：

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卖风

摘要：我们研究了在不确定的风资源可利用性的情况下风力生产商的战略行为，其中风能在企业之间是相关的。我们研究了不同公司的风能资源之间的相关程度如何影响战略和市场成果。我们的分析的主要见解是，资源可用性异质性的提高改善了社会福利，这是其对改善多元化和减少公司扣缴额的影响的函数。我们表明，这种洞察力对于有关电力需求的常见假设是有力的。该模型还用于分析风能资源异质性对公司利润和共谋机会的影响。最后，我们分析了改善公共信息和天气预报的影响；加强公众预测可以增加福利，