Research faculty

Keith Ruddell


Research interests: Electricity markets, Supply function equilibrium, Market design and Industrial organization.

Some questions that Keith Ruddell tries to answer in his research:

  • How does oligopolistic behaviour manifest itself in electricity markets, and how is it affected by contracting arrangements or transmission constraints?
  • How should we organize electricity markets in order to provide better incentives to all parties?
  • What is the true nature of the relationship between forward and spot prices in energy markets?

New research

Market Power and Forward Prices Keith Ruddell, Tony Downward and Andy Philpott

Keith Ruddell


Ph: +46 (0)8 665 4554


Keith Ruddell is from Aotearoa/New Zealand and completed his PhD studies at University of Auckland, where he was supervised by Prof. Andy Philpott and Dr Tony Downward. His research concentrates on the computation and application of supply function equilibrium to electricity markets. 

Leading Research Environment

IFN at the top


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The Research Institute of Industrial Economics, IFN, is a private and independent foundation devoted to pursuing highly relevant research for trade and industry.

The researchers at IFN are united in their belief that economic methods offer a powerful tool for understanding society.

The main research programs are:

  1. economics of entrepreneurship
  2. globalization and corporate restructuring
  3. economics of the service sector
  4. economics of the electricity markets
  5. economics of institutions and culture.

Global Award

Research on entrepreneurship




The Global Award for Entrepreneurship Research is the foremost global award for research on entrepreneurship.This Prize is awarded annually with a prize sum of EUR 100,000.

IFN in cooperation with Entreprenörskapsforum and Vinnova are the principals of the award, in cooperation with the donor, Stockholms Köpmansklubb.

Hernando de Soto, President of the Institute for Liberty and Democracy (ILD), in Lima, Peru, is the winner of the Global Award for Entrepreneurship Research 2017. He will receive the award at a ceremony on May 15, 2016, in Stockholm.

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 |