Browsing by Author "Liski, Matti"
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- ItemForward trading and collusion in oligopoly(ACADEMIC PRESS INC ELSEVIER SCIENCE, 2006) Liski, Matti; Montero, Juan PabloWe consider an infinitely repeated oligopoly in which at each period firms not only serve the spot market by either competing in prices or quantities but also have the opportunity to trade forward contracts. Contrary to the pro-competitive results of finite-horizon models, we find that the possibility of forward trading allows firms to sustain collusive profits that otherwise would not be possible to achieve. The result holds both for price and quantity competition and follows because (collusive) contracting of future sales is more effective in deterring deviations from the collusive plan than inducing the previously identified pro-competitive effects. (c) 2005 Elsevier Inc. All rights reserved.
- ItemForward Trading in Exhaustible-Resource Oligopoly(2008) Montero Ayala, Juan Pablo; Liski, Matti
- ItemMarket power in an exhaustible resource market: the case of storable pollution permits(2008) Liski, Matti; Montero Ayala, Juan Pablo
- ItemOn Coase and Hotelling(2009) Montero Ayala, Juan Pablo; Liski, Matti