Forward Trading and Collusion of Firms in Volatile Markets

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Show simple item record Aichele, Markus 2014-11-05T10:36:29Z 2014-11-05T10:36:29Z 2014-09-22
dc.identifier.other 416533787 de_DE
dc.identifier.uri de_DE
dc.description.abstract Commodity markets are characterized by large volumes of forward contracts as well as high volatility. They are often accused of weak competitive pressure. This article extends the existing literature by analyzing tacit collusion of firms, forward trading and volatility simultaneously. The expected collusive profit may depart from the monopoly outcome in a volatile market (Rotemberg and Saloner, 1986). Introducing forward trading enables firms to gain the expected monopoly profit for a broader range of parameters. In contrast to a deterministic market (Liski an Montero, 2006), trading forward in a volatile market may lead to an expected collusive profit below the monopoly one. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri de_DE
dc.rights.uri en
dc.subject.classification Abgestimmtes Verhalten de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Industrial organization en
dc.subject.other Forward trading en
dc.subject.other Collusion en
dc.subject.other Energy Markets en
dc.subject.other Kollusion de_DE
dc.title Forward Trading and Collusion of Firms in Volatile Markets en
dc.type Aufsatz de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
utue.publikation.source University of Tübingen Working Papers in Economics and Finance ; No. 75 de_DE


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