Forward trading and collusion in oligopoly

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dc.contributor.authorLiski, Matti
dc.contributor.authorMontero, Juan Pablo
dc.date.accessioned2024-01-10T12:05:33Z
dc.date.available2024-01-10T12:05:33Z
dc.date.issued2006
dc.description.abstractWe 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.
dc.fechaingreso.objetodigital27-03-2024
dc.format.extent19 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.jet.2005.05.002
dc.identifier.issn0022-0531
dc.identifier.urihttps://doi.org/10.1016/j.jet.2005.05.002
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76030
dc.identifier.wosidWOS:000242202900009
dc.information.autorucInstituto de Economía;Montero J;S/I;87534
dc.issue.numero1
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final230
dc.pagina.inicio212
dc.publisherACADEMIC PRESS INC ELSEVIER SCIENCE
dc.revistaJOURNAL OF ECONOMIC THEORY
dc.rightsacceso restringido
dc.subjectforward markets
dc.subjectCournot competition
dc.subjectBertrand competition
dc.subjectcollusion
dc.subjectCOMPETITION
dc.subjectMARKET
dc.subject.ods07 Affordable and Clean Energy
dc.subject.odspa07 Energía asequible y no contaminante
dc.titleForward trading and collusion in oligopoly
dc.typeartículo
dc.volumen131
sipa.codpersvinculados87534
sipa.indexWOS
sipa.trazabilidadCarga SIPA;09-01-2024
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