Chaton, Corinne; Creti, Anna; Villeneuve, Bertrand - Université Paris-Dauphine (Paris IX) - 2009
This paper analyzes the role of private storage in a market for a commodity (e.g. natural gas) whose supply is subject to the threat of an irreversible disruption. We focus on the medium term in which seasonality of demand and exhaustibility can be neglected. We characterize the price and...