Oligopoly, uncertainty and strategic forward transactions

作者: Blaise Allaz

DOI: 10.1016/0167-7187(92)90020-Y

关键词: EconomicsConjectural variationSequential modelOligopolyForward marketMicroeconomicsHomogeneousForward price

摘要: We build a simple two-period model of an oligopoly producing homogeneous good that can also be traded on forward market It is shown in such sequential where decisions are taken prior to spot decisions, transactions effective tool the hands noncompetitive producers Whether oligopolists end up long or short depends interaction between strategy and risk hedging as well type conjectural variation assumed

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