Oddjob
Merry fucking Xmas to you assholes
Explain to me how the retail electricity market works then. What do people think a MWh is worth? Is this what they actually pay?dont try to overcomplicate your simple statement of "its worth what somone is willing to pay for it"
How about the oil futures market. What's the discount on Brent futures compared to WTI. Is that based on a formula or do people pay what they feel like?
What about calculating the price of derivatives using black-scholes. Is there anyone who doesn't do it?
There's a reason why market and auction design are their own subsets of academic study.
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