Strategic Investment, Forward Markets and Competition

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dc.contributor.author Aichele, Markus
dc.date.accessioned 2014-11-06T06:25:30Z
dc.date.available 2014-11-06T06:25:30Z
dc.date.issued 2014-09-22
dc.identifier.other 416573355 de_DE
dc.identifier.uri http://hdl.handle.net/10900/57697
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-576975 de_DE
dc.description.abstract I model the strategic interaction between firms, that face decisions on investment, forward contracts and spot market quantities. For an investment decision that takes place after firms have contracted forward but before firms compete on the spot market (medium term investment), competition becomes fierce. Thus, the efficiency gains from forward trading found by Allaz and Villa (1993) still are present. However, for an investment that takes place before firms contract forward (long term investment), competition becomes rather weak. When investment matters, from a welfare point of view the desirability of forward trading critically depends on the structure of decision making. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Investition de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Industrial Organization en
dc.subject.other Strategic Investment en
dc.subject.other Forward Trading en
dc.subject.other Cournot Competition en
dc.subject.other Energy Markets en
dc.subject.other Wettbewerb de_DE
dc.title Strategic Investment, Forward Markets and Competition en
dc.type Aufsatz de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
utue.publikation.source University of Tübingen Working Papers in Economics and Finance ; No. 76 de_DE

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