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Commodity markets are characterized by large volumes of forward contracts as well as high volatility. They are often accused of weak competitive pressure. This article extends the existing literature by analyzing tacit collusion of firms, forward trading and volatility simultaneously. The...
Persistent link: https://www.econbiz.de/10010426239
I model the optimal semi-collusive strategy of firms using forward contracts in volatile markets. It has been shown that forward contracts can be used to stabilize a collusive agreement under deterministic (Liski and Montero, 2006) as well as under stochastic market conditions (Aichele, 2012)....
Persistent link: https://www.econbiz.de/10010342821
cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … lower variability of the number of firms; and (2) these relationships are non-linear as suggested by theory with initial …
Persistent link: https://www.econbiz.de/10011508062
Persistent link: https://www.econbiz.de/10010504814
cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … lower variability of the number of firms; and (2) these relationships are non-linear as suggested by theory with initial …
Persistent link: https://www.econbiz.de/10001784015
Persistent link: https://www.econbiz.de/10001861477
Persistent link: https://www.econbiz.de/10001339097
cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … by theory with initial increases in sunk costs or uncertainty having relatively greater effect on firm volatility. The …
Persistent link: https://www.econbiz.de/10013319863
Multinational and multiproduct firms often experience uncertainty in the relative return of conducting activities in different markets due to, for example, exchange rate volatility or the changing prospects of different products. We study how a multi-divisional organization should optimally...
Persistent link: https://www.econbiz.de/10012897636