Brandts, Jordi; Pezanis-Christou, Paul; Schram, Arthur - Departament d'Economia i Història Econòmica, … - 2003
We use experiments to study the efficiency effects for a market as a whole of adding the possibility of forward contracting to a pre-existing spot market. We deal separately with the cases where spot market competition is in quantities and where it is in supply functions. In both cases we...