PSERC
11
Experimental Design for Three
Treatments over 11 Day/Night Pairs
Treatments: FP (Baseline);  DRP (Specified/kWh Credit);
RTP (Forecast Prices, Q-Bids, Pay Mkt. Price)
Characteristics 1    2    3    4    5     6      7        8      9    10    11
of Day/Night Pairs: N   S    H   N    N    N   H+S   H+S   N     S     H
     N=Normal; H=Heat Wave; S=Random Supply Shortage
Preference Poll, “What Do You Prefer: DRP or RTP?”
After FP
After DRP
After RTP  è   Determines Selection of Additional
“High Stakes” Runs on Pairs 1 to 4
Two Separate Identical Trials Were Conducted – with Different Participants