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Journal of Tsinghua University(Science and Technology)    2017, Vol. 57 Issue (4) : 351-356     DOI: 10.16511/j.cnki.qhdxxb.2017.25.003
HYDRAULIC ENGINEERING |
Bidding behavior in an optimal water trading model
ZHENG Hang1, CHEN Ben1, LIN Mu2
1. Department of Hydraulic Engineering, Tsinghua University, Beijing 100084, China;
2. School of Statistics and Mathematics, Central University of Finance and Economics, Beijing 100081, China
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Abstract  China is developing its water rights drawing system based on water trading which is an important method to optimize allocations through the market mechanism. This article describes the mathematical model for pooled water trading and analyzes trader bidding behavior in the market. The trader income is also calculated based on balancing the trading risk and benefit. The best bidding strategy is selected to give the optimal income. Split bidding was also analyzed to show that split bidding increases the trader income. Furthermore, the effect of information transparency was also studied by solving for the game equilibrium between buyers with the result showing that increasing information disclosure improves the price discovery effectiveness in the market.
Keywords water trading      market      bidding behavior      information     
ZTFLH:  F407.9  
Issue Date: 15 April 2017
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ZHENG Hang
CHEN Ben
LIN Mu
Cite this article:   
ZHENG Hang,CHEN Ben,LIN Mu. Bidding behavior in an optimal water trading model[J]. Journal of Tsinghua University(Science and Technology), 2017, 57(4): 351-356.
URL:  
http://jst.tsinghuajournals.com/EN/10.16511/j.cnki.qhdxxb.2017.25.003     OR     http://jst.tsinghuajournals.com/EN/Y2017/V57/I4/351
  
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