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Economics Letters

Market Power and Forward Prices

Vetenskaplig artikel på engelska
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

Författare
Keith Ruddell, Anthony Downward, Andy Philpott

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.