Peak Load Pricing with a Diverse Technology

Crew, Michael A.

doi:10.2307/3003197

Cited by 164 publications

(91 citation statements)

References 12 publications

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“…He not only was one of the most broadly-read academics that we have known, he also often attended other field's conferences, coauthored with scholars from other disciplines (e.g., Crew and Kleindorfer 1970, Kleindorfer and Orts 1998, and Rosenthal et al 2006, and published in non-OM outlets (e.g., Crew and Kleindorfer 1976, Kunreuther and Kleindorfer 1980, Schulkin and Kleindorfer 1995, and Kleindorfer 2008. Such cross-pollination requires intentional effort but pays off by increasing the visibility of Sustainable OM research beyond our own circle of scholars, enhancing its potential impact.…”

Section: How Can An Operations Management Lens Contribute?mentioning

confidence: 99%

Sustainable Operations Management: An Enduring Stream, or Passing Fancy?

Drake¹,

Spinler

2013

SSRN Journal

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Section: How Can An Operations Management Lens Contribute?mentioning

confidence: 99%

Sustainable Operations Management: An Enduring Stream, or Passing Fancy?

Drake¹,

Spinler

2013

SSRN Journal

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“…However, these operational issues are rather fundamental to most real problems. In economics, work on diverse technologies, e.g., Crew and Kleindorfer (1976), characterizes efficient production decisions and technology mixes under competition and price uncertainty, but this work does not consider contract and spot market interactions. In industrial organization, previous work on forward-spot integration, e.g., Allaz and Vila (1993) neglects either capacity constraints, spot price uncertainty, options, or heterogeneous technologies.…”

Section: Literature Reviewmentioning

confidence: 99%

Competitive Options, Supply Contracting, and Electronic Markets

2005

Self Cite

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T his paper develops a framework for analyzing business-to-business (B2B) transactions and supply chain management based on integrating contract procurement markets with spot markets using capacity options and forwards. The framework is motivated by the emergence of B2B exchanges in several industrial sectors to facilitate such integrated contract and spot procurement. In the framework developed, a buyer and multiple sellers may either contract for delivery in advance (the "contracting" option) or they may buy and sell some or all of their input/output in a spot market. Contract pricing involves both a reservation fee per unit of capacity and an execution fee per unit of output if capacity is called. The key question addressed is the structure of the optimal portfolios of contracting and spot market transactions for the buyer and these sellers, and the pricing thereof in market equilibrium. Existence and structure of market equilibria are characterized for the associated competitive game between sellers with heterogeneous technologies, under the assumption that they know the buyer's demand function. This allows an explicit characterization of the price of capacity options and the value of managerial flexibility, as well as providing conditions under which B2B exchanges are efficient and sustainable.

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“…He not only was one of the most broadly read academics that we have known, he also often attended other field's conferences, coauthored with scholars from other disciplines (e.g., Crew and Kleindorfer 1970, Kleindorfer and Orts 1998, Rosenthal et al 2006, and published in non-OM outlets (e.g., Crew and Kleindorfer 1976, Kunreuther and Kleindorfer 1980, Schulkin and Kleindorfer 1995, Kleindorfer 2008. Such cross-pollination requires intentional effort, but pays off by increasing the visibility of sustainable OM research beyond our own circle of scholars, enhancing its potential impact.…”

Section: How Can An Operations Management Lens Contribute?mentioning

confidence: 99%

OM Forum—Sustainable Operations Management: An Enduring Stream or a Passing Fancy?

Drake

Spinler

2013

M&SOM

144

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Paul Kleindorfer was among the first to weigh in on and nurture the stream of sustainable operations management. The thoughts laid out here are based on conversations we had with Paul relating to the drivers underlying sustainability as a management issue: population and per capita consumption growth, the limited nature of resources and sinks, and the responsibility and exposure of firms to ensuing ecological risks and costs. We then discuss how an operations management lens contributes to the issue and criteria to help the sustainable operations management perspective endure. This paper relates to a presentation delivered by Morris Cohen for Paul's Manufacturing and Service Operations Management Distinguished Fellows Award, given at Columbia University, June 18, 2012. We wrote this paper at Paul's request.

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Peak Load Pricing with a Diverse Technology

Cited by 164 publications

References 12 publications

Sustainable Operations Management: An Enduring Stream, or Passing Fancy?

Sustainable Operations Management: An Enduring Stream, or Passing Fancy?

Competitive Options, Supply Contracting, and Electronic Markets

OM Forum—Sustainable Operations Management: An Enduring Stream or a Passing Fancy?

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