haku: @indexterm speculation / yhteensä: 43
viite: 14 / 43
Tekijä: | McLaren, J. |
Otsikko: | Speculation on primary commodities: the effects of restricted entry |
Lehti: | Review of Economic Studies
1999 : OCT, VOL. 66(4):229, p. 853-871 |
Asiasana: | ECONOMICS COMMODITIES SPECULATION |
Kieli: | eng |
Tiivistelmä: | 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. |
SCIMA