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In this paper, I use an example from the literature to compare Cournot and supply function equilibrium models of bid-based electricity markets both with and without transmission constraints. I will demonstrate that the parametrization of the supply function model has a significant effect on the calculated results. In particular, several results reported in the literature are artifacts of assumptions in the parametrization of the model.doi:10.1109/tpwrs.2002.804956 fatcat:qj6b5vmcvffohp2n5q655pq5hq