The liberalisation of the Hungarian electricity and natural gas markets has been completed in 2009. The liberalisation of the electricity market resulted in different competitive positions in the production, the wholesale and the retail trade. The high level of market concentration survived in...

The liberalisation of the Hungarian electricity and natural gas markets has been completed in 2009. The liberalisation of the electricity market resulted in different competitive positions in the production, the wholesale and the retail trade. The high level of market concentration survived in...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...