Is it Possible to Move the Copper Market
AbstractWe study whether and to what a large supplier facing a competitive fringe could effectively move the market of a depletable stock such as copper. We argue that the mere possibility for the large stockholder (i.e., leader) to sign forward contracts significantly reduces its market power. We show, for example, that in a three-period setting the leader has no ability whatsoever to move the market.
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Bibliographic InfoPaper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 246.
Date of creation: 2003
Date of revision:
Publication status: Published as "Is it Possible to Move the Copper Market?", Cuadernos de Economía, Vol. 40, Nº 121, pp. 559-565, 2003.
Other versions of this item:
- Juan Pablo Montero & Matti Liski, 2003. "Is it Possible to Move the Copper Market?," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(121), pages 559-565.
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- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-49, April.
- Newbery, David M G, 1981. "Oil Prices, Cartels, and the Problem of Dynamic Inconsistency," Economic Journal, Royal Economic Society, vol. 91(363), pages 617-46, September.
- Butz, David A, 1990. "Durable-Good Monopoly and Best-Price Provisions," American Economic Review, American Economic Association, vol. 80(5), pages 1062-76, December.
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