Asymmetric price responses, market integration and market power: A study of the US natural gas market

被引：19
|
作者：
Murry, Donald [1 ,2 ]
Zhu, Zhen [1 ,3 ]
机构：
[1] CH Guernsey & Co, Oklahoma City, OK 73112 USA
[2] Univ Oklahoma, Dept Econ, Norman, OK 73069 USA
[3] Univ Cent Oklahoma, Dept Econ, Coll Business, Edmond, OK 73034 USA
来源：
ENERGY ECONOMICS | 2008年 / 30卷 / 03期
关键词：
market power; natural gas market;
D O I：
10.1016/j.eneco.2006.10.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We studied the market performance at selected, representative natural gas trading hubs in the U.S. and documented different price behaviors among various hubs. With NYMEX prices as the competitive benchmark, we found empirically that the spot price responses at some trading hubs were systematically asymmetric, thus demonstrating a market advantage by either buyers or sellers. We further found that the presence of market power was a very plausible explanation for this price behavior at some hubs. (c) 2006 Elsevier B.V. All rights reserved.
引用
收藏
页码：748 / 765
页数：18
相关论文
共 50 条
  • [1] Market integration and price transmission in the US natural gas market: From the wellhead to end use markets
    Mohammadi, Hassan
    ENERGY ECONOMICS, 2011, 33 (02) : 227 - 235
  • [2] Declining integration in the US natural gas market
    Nunez, Hector M.
    Trujillo-Barrera, Andres
    Etienne, Xiaoli
    RESOURCES POLICY, 2022, 78
  • [3] Market integration and price leadership: The US Atlantic salmon market
    Salazar, Leonardo
    Dresdner, Jorge
    AQUACULTURE ECONOMICS & MANAGEMENT, 2021, 25 (03) : 245 - 259
  • [4] Market power and price discrimination in the US market for higher education
    Epple, Dennis
    Romano, Richard
    Sarpca, Sinan
    Sieg, Holger
    Zaber, Melanie
    RAND JOURNAL OF ECONOMICS, 2019, 50 (01): : 201 - 225
  • [5] Modeling market power in the US shale gas market
    Siddiqui, Sauleh
    Gabriel, Steven A.
    OPTIMIZATION AND ENGINEERING, 2017, 18 (01) : 203 - 213
  • [6] Price elasticity in the US gas market
    Vrankova, Jana
    REGION IN THE DEVELOPMENT OF SOCIETY 2014, 2014, : 977 - 985
  • [7] Asymmetric reactions of the US natural gas market and economic activity
    Nguyen, Bao H.
    Okimoto, Tatsuyoshi
    ENERGY ECONOMICS, 2019, 80 : 86 - 99
  • [8] Examining market power in the European natural gas market
    Egging, Rudolf G.
    Gabriel, Steven A.
    ENERGY POLICY, 2006, 34 (17) : 2762 - 2778
  • [9] Integration of physical and futures prices in the US natural gas market
    Ghoddusi, Hamed
    ENERGY ECONOMICS, 2016, 56 : 229 - 238
  • [10] The Allocative Cost of Price Ceilings in the US Residential Market for Natural Gas
    Davis, Lucas W.
    Kilian, Lutz
    JOURNAL OF POLITICAL ECONOMY, 2011, 119 (02) : 212 - 241
12345