forward hedging and vertical integration are two separate mechanisms for demand and spot price risk diversification that both … forward hedging when retailers are highly risk averse. We illustrate our analysis with data from the French electricity market … the impact of forward markets and vertical integration on prices, risk premia, and retail market shares. We point out that …

and forward hedging are two separate levers for demand and spot price risk diversification. We show that they are … risk management. We develop an equilibrium model that fits electricity markets well. We point out that vertical integration … highly risk averse downstream agents, vertical integration may be a better way to diversify risk than spot, forward and …

This research examined the use of electronic messaging by a research team performing a marketing research study. The …