haku: @journal_id 1275 / yhteensä: 203
viite: 17 / 203
Tekijä: | Mahenc, P. Meunier, V. |
Otsikko: | Forward markets and signals of quality |
Lehti: | RAND Journal of Economics
2003 : AUTUMN, VOL. 34:3, p. 478-494 |
Asiasana: | Information Monopoly Quality |
Kieli: | eng |
Tiivistelmä: | This study analyzes how information concerning quality may be conveyed via forward trading. A privately informed monopolist has the opportunity to make forward sales. Speculators and consumers, participating in the forward and the spot markets respectively, observe the monopolist's decisions in these markets. It is shown that forward trading may emerge in equilibrium although the monopolist has neither insurance nor hedging incentives. |
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