Micola, Augusto Rupérez; Banal-Estañol, Albert; Bunn, … - In: Journal of Economic Behavior & Organization 67 (2008) 2, pp. 381-393
We present an agent-based model of a multi-tier energy market. We show how reward interdependence between strategic business units within a vertically integrated firm can increase its profits in oligopolistic energy markets. The effects are shown to be distinct from those of the raising rivals'...