Market power and forward prices

被引：6
|
作者：
Ruddell, Keith [1 ,2 ]
Downward, Anthony [1 ]
Philpott, Andy [1 ]
机构：
[1] Univ Auckland, Dept Engn Sci, Auckland, New Zealand
[2] IFN Res Inst Ind Econ, Stockholm, Sweden
来源：
ECONOMICS LETTERS | 2018年 / 166卷
关键词：
Forward pricing; Electricity markets; Market power; Arbitrage; ELECTRICITY;
D O I：
10.1016/j.econlet.2018.02.016
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Our model of strategic behavior in sequential markets exhibits a persistent forward price premium. This premium is not susceptible to arbitrage by speculators on the forward market, since purchasers prefer forward contracts backed by producers with market power. (C) 2018 Elsevier B.V. All rights reserved.
引用
收藏
页码：6 / 9
页数：4
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