search query: @journal_id 97 / total: 799
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| Author: | McLaren, J. |
| Title: | Speculation on primary commodities: the effects of restricted entry |
| Journal: | Review of Economic Studies
1999 : OCT, VOL. 66(4):229, p. 853-871 |
| Index terms: | ECONOMICS COMMODITIES SPECULATION |
| Language: | eng |
| Abstract: | The author presents a model of oligopolistic commodity speculation, in which a limited number of speculators practice non-cooperative storage in an infinite-horizon game. A significant technical difficulty due to the non-negative stock constraint is overcome, and a tractable sub-game perfect equilibrium is presented, in which it is shown that less is stored and prices are more volatile than under perfect competition. |
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