秘密双边远期合同*

IF 1.7 4区 经济学 Q3 BUSINESS, FINANCE
Geert Van Moer
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引用次数: 0

摘要

我分析了古诺寡头垄断下的秘密双边远期合约。一份秘密的双边远期合同会影响合同缔约方企业的产量,而非外部企业。一方面,远期合同有助于异质企业实现跨设施生产的合理化。另一方面,企业也要考虑远期合同对其联合生产的影响。我表明,现货市场的集中度低于行业中可调度设施的所有权。此外,不可调度设施的所有权分配与消费者福利无关。我讨论了对电力市场政策的影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Secret Bilateral Forward Contracting*

I analyze secret bilateral forward contracting in a Cournot oligopoly. A secret bilateral forward contract affects the production quantities of the firms which are party to the contract but not of the outsiders. On the one hand, forward contracts facilitate for heterogeneous firms to rationalize production across facilities. On the other hand, firms also consider how forward contracting affects their combined production. I show that the spot market is less concentrated than the ownership of dispatchable facilities in the industry. Furthermore, the ownership distribution of nondispatchable facilities is irrelevant for consumer welfare. I discuss implications for policy in electricity markets.

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来源期刊
CiteScore
1.60
自引率
0.00%
发文量
27
期刊介绍: First published in 1952, the Journal of Industrial Economics has a wide international circulation and is recognised as a leading journal in the field. It was founded to promote the analysis of modern industry, particularly the behaviour of firms and the functioning of markets. Contributions are welcomed in all areas of industrial economics including: - organization of industry - applied oligopoly theory - product differentiation and technical change - theory of the firm and internal organization - regulation - monopoly - merger and technology policy Necessarily, these subjects will often draw on adjacent areas such as international economics, labour economics and law.
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