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• W2463835478 abstract "We use experiments to study the efficiency effects for a market as a whole of adding the possibility of forward contracting to a pre-existing spot market. We deal separately with the cases where spot market competition is in quantities and where it is in supply functions. In both cases we compare the effect of adding a contract market with the introduction of an additional competitor, changing the market structure from a triopoly to a quadropoly. We find that, as theory suggests, for both types of competition the introduction of a forward market significantly lowers prices. The combination of supply function competition with a forward market leads to high efficiency levels." @default.
• W2463835478 created "2016-07-22" @default.
• W2463835478 creator A5021103343 @default.
• W2463835478 creator A5065376153 @default.
• W2463835478 creator A5067190449 @default.
• W2463835478 date "2003-10-01" @default.
• W2463835478 modified "2023-10-02" @default.
• W2463835478 title "Competitions with Forward Contracts: A Laboratory Analysis Motivated by Electricity Market Design" @default.
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• W2463835478 hasPublicationYear "2003" @default.
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