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The market power analysis in electricity market is relevant for understanding the competitive development of the industry's restructuring and the liberalization process. The paper analyzes the market power exercised by power generators in the Italian wholesale electricity market. Following the approach of Wolak (2003, 2009), the extent of market power is measured using the Lerner index computed as the inverse of arc elasticity of the residual demand faced by each Cournot competitors. Then, thedoi:10.2139/ssrn.2620643 fatcat:gq7gssufobfrlos4hsfkmkzlde