Our model of strategic behavior in sequential markets exhibits a persistent forward price premium. This premium is not susceptible to arbitrage by speculators on the forward market, since purchasers prefer forward contracts backed by producers with market power.
Economics Letters
Market Power and Forward Prices
Tidskriftsartikel
Referens
Ruddell, Keith, Anthony Downward och Andy Philpott (2018). ”Market Power and Forward Prices”. Economics Letters 166, 6–9. doi.org/10.1016/j.econlet.2018.02.016
Ruddell, Keith, Anthony Downward och Andy Philpott (2018). ”Market Power and Forward Prices”. Economics Letters 166, 6–9. doi.org/10.1016/j.econlet.2018.02.016
Författare
Keith Ruddell, Anthony Downward,
Andy Philpott
