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Nachfrageunsicherheit und Risikopolitik im Duopol

Broll, Udo; Pelster, Matthias; Wahl, Jack E. - 2012

Die vorliegende Arbeit untersucht ein Duopol bei unsicherer Nachfrage unter Risikoaversion. Die Produktion der gesamten … Terminmarkt erhalten. -- Nachfrageunsicherheit ; Duopol ; Terminmarkt ; Risikopolitik …The paper studies an duopoly with risk averse firms exposed to demand uncertainty. A risk sharing market is introduced …

Persistent link: https://www.econbiz.de/10009567543

Do forward markets enhance competition? : experimental evidence

Le Coq, Chloé (contributor); Orzen, Henrik (contributor) - 2002 - [Elektronische Ressource], Rev. October 1, 2004

Hedging risks is an important rationale for the existence of forward markets. However, Allaz and Vila (1993) show that duopolists can also have a strategic motive to sell forward, irrespective of exogenous uncertainties. Moreover, in their model the possibility of forward trading increases...

Persistent link: https://www.econbiz.de/10001693096

Forward trading and collusion in supply functions

Wölfing, Nikolas - 2019

This paper studies the effect of forward contracts on the stability of collusion among firms, competing in supply functions on the spot market. A forward market can increase the range of discount factors which allow to sustain collusion. On the contrary, collusion is destabilised when a...

Persistent link: https://www.econbiz.de/10011968922

Output commitment through product bundling : experimental evidence

Hinloopen, Jeroen; Müller, Wieland; Normann, Hans-Theo - 2011

Persistent link: https://www.econbiz.de/10010191078

Cartel formation with endogenous capacity and demand uncertainty

Paha, Johannes - 2013

This article analyzes the strategic decisions of firms whether to establish and adhere to a cartel when they can also shape competition by investing into production capacity while being subject to unexpected demand shocks with persistence. The model shows that a negative demand shock can...

Persistent link: https://www.econbiz.de/10010126878

Bertrand-Edgeworth competition with substantial product differentiation

Somogyi, Robert - 2013 - Preliminary version

Since Kreps and Scheinkman's seminal article (1983) a large number of papers have analyzed capacity constraints' potential to relax price competition. However, the ensuing literature has assumed that products are either perfect or very close substitutes. Therefore none of the papers has...

Persistent link: https://www.econbiz.de/10010187650

A cautionary note on using hotelling models in platform markets

Jeitschko, Thomas D.; Kim, Soo Jin; Yankelevich, Aleksandr - 2018

We study a Hotelling framework in which customers first pay a monopoly platform to enter the market before deciding between two competing services on opposite ends of a Hotelling line. This setup is common when modeling competition in Internet content provision. We find that standard...

Persistent link: https://www.econbiz.de/10011823101

Strategic delegation in experimental markets

Huck, Steffen; Müller, Wieland; Normann, Hans-Theo - 2000

In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …

Persistent link: https://www.econbiz.de/10009583883

Explaining electricity forward premiums : evidence for the weather uncertainty effect

Obermüller, Frank - 2017

With the increasing share of volatile renewable energies, weather prediction becomes more important to electricity markets. The weather-driven uncertainty of renewable forecast errors could have price increasing impacts. This research sets up an analytic model to show that the day-ahead optimal...

Persistent link: https://www.econbiz.de/10011750347

Hedging and competition

Giambona, Erasmo; Kumar, Anil; Phillips, Gordon M. - 2021 - This draft: April 19, 2021

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry - an industry with over 7 Trillion in assets and over 1,000 private and public firms. We show that firms that are likely to face costly external finance increase hedging after...

Persistent link: https://www.econbiz.de/10012585845