. In this study we analyze the case of an n firm oligopoly in Allaz’ and Vila’s framework and derive comparative static … compared to the increase in competitive pressure due to entry, the competition-enhancing effect of a forward market is weaker … than predicted. -- Cournot Competition ; Forward Markets ; Spot Markets ; Experiments …

. -- Bertrand competition ; Coase conjecture ; dynamic oligopoly ; stochastic games …In the text-book model of dynamic Bertrand competition, competing firms meet the same demand function every period …