Boots, Maroeska G.; Rijkers, Fieke A.M.; Hobbs, Benjamin F. - In: The Energy Journal Volume 25 (2004) Number 3, pp. 73-102
A model of successive oligopoly is applied to the European natural gas market. The model has a two-level structure, in which Cournot producers are also Stackelberg leaders with respect to traders, who may be Cournot oligopolists or price takers. Several conclusions emerge. First, successive...
