| Titre | Forward trading and adjustment costs in Cournot markets | |
|---|---|---|
| Auteur | Margaret E. Slade, Henry Thille | |
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Revue | Cahiers d'économie politique |
| Numéro | no 37, automne 2000 Qu'a-t-on appris sur la concurrence imparfaite depuis Cournot ? | |
| Rubrique / Thématique | L'analyse de l'intensité de la concurrence et de ses effets |
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| Page | 177-195 | |
| Résumé anglais |
Many commodity markets satisfy the assumptions that underlie the Cournot model. These markets, however, have a feature that is not considered in that model - producers and consumers can enter into contracts for forward transactions. We consider the implications of forward trading for Cournot markets. In particular, we take the simple two-period game that is common in the literature and extend it to include various sorts of adjustment costs. The adjustment costs that we consider are of two sorts : They can involve time or periods during which players are committed to their decisions, or they can involve dollars or expenditure of resources when those decisions are changed. Whereas the former are procompetitive or output enhancing, we show that, in general, the latter are anticompetitive or output restricting. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_2000_num_37_1_1294 |
