Trading in the downstream European gas market: a successive oligopoly approach.

From: The Energy Journal | Date: June 1, 2004| Author: Boots, Maroeska G.; Hobbs, Benjamin F.; Rijkers, Fieke A.M. | Copyright information

A model of successive oligopoly is applied to the European natural gas market. The model has a two-level structure, in which Cournot producers are also Stackelberg leaders with respect to traders, who may be Cournot oligopolists or price takers. Several conclusions emerge. First, successive oligopoly ("double marginalization") yields higher prices and lower consumer welfare than if oligopoly exists only on one level. Second, due to the high concentration of traders, prices are dist...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

Transporting Russian gas to Western Europe--a simulation analysis.
The Energy Journal ; ... of establishing a tangible co-operation among gas producing and exporting countries (see Perner ... Seeliger, 2004, for simulations of the effects of a gas cartel on Europe). The model presented in this ... to integrate the strategic behavior of other gas exporting countries such as Norway, the ...
From the International Competitive Carrier to the WTO: A Survey of the FCC's International Telecommunications Policy Initiatives 1985-1998.(World Trade Organization; Federal Communications Commission)
Federal Communications Law Journal ; ... REUTERS, Aug. 5, 1997, available in LEXIS, News Library, Wires File (reporting that the ... 11. (282.) Id. para. 12. (283.) See FCC News Release, International Action AT&T ... http://www.204.177.56.98/gleaner/19980127/news/n3.html> ( 'Jamaica cannot afford to ...
Cabining intellectual property through a property paradigm.
Duke Law Journal ; ... John Hackett, Software Patent, BANK TECH. NEWS, Mar. 2001, at 25, to approximately 10 ... Mirror Magazines v. Las Vegas Sporting News, 212 F.3d 157, 164 (3d Cir. 2000) (finding ... album exclusively in MP3 format, and that news of the release spread quickly through message ...
The microeconomic foundations of business cycles: from institutions to autocatalytic networks.
Journal of Economic Issues ; ... partitioning the market into a narrower ... overcapacity and market potential. The ... as a ripple downstream--from final ... interrelated markets and industries ... the number of trading links and their ... e., a single market evolution follows ... grow and gain market share in all ...