Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/82597
Citations | ||
Scopus | Web of ScienceĀ® | Altmetric |
---|---|---|
?
|
?
|
Type: | Journal article |
Title: | Competition with forward contracts: a laboratory analysis motivated by electricity market design |
Author: | Brandts, J. Pezanis-Christou, P. Schram, A. |
Citation: | The Economic Journal, 2008; 118(525):192-214 |
Publisher: | Blackwell Publ Ltd |
Issue Date: | 2008 |
ISSN: | 0013-0133 1468-0297 |
Statement of Responsibility: | Jordi Brandts, Paul Pezanis-Christou and Arthur Schram |
Abstract: | We use experiments to study the efficiency effects of adding the possibility of forward contracting to a spot market. We focus on the strategic implications of a forward market and consider both quantity and supply function competition. In both cases we compare the effect of adding a contract market to the introduction of an additional competitor. We find that, as theory suggests, for both types of competition the introduction of a forward market significantly lowers prices. The combination of supply function competition with a forward market leads to high efficiency levels. |
Rights: | The Author(s). |
DOI: | 10.1111/j.1468-0297.2007.02109.x |
Published version: | http://dx.doi.org/10.1111/j.1468-0297.2007.02109.x |
Appears in Collections: | Aurora harvest 4 Economics publications |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.