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Gas thin markets:insights from bargaining and networks models

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  • Matteo Maria GALIZZI

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Abstract

Several results from bargaining and networks microeconomic literature are presented and their main insights and applications to bilateral market power and price formation in gas thin markets are discussed. Bargaining models encompass the bilateral Rubinstein negotiations, bargaining between a single seller and two buyer, both symmetric and heterogeneous and negotiations in bilateral oligopolies. Models of price formation both in fixed and in endogenously formed buyers-sellers networks are also discussed.

Suggested Citation

  • Matteo Maria GALIZZI, 2006. "Gas thin markets:insights from bargaining and networks models," Departmental Working Papers 2006-12, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2006-12
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    File URL: http://wp.demm.unimi.it/files/wp/2006/DEMM-2006_012wp.pdf
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    References listed on IDEAS

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    1. Kalyan Chatterjee & Bhaskar Dutta, 2013. "Rubinstein Auctions: On Competition for Bargaining Partners," World Scientific Book Chapters,in: Bargaining in the Shadow of the Market Selected Papers on Bilateral and Multilateral Bargaining, chapter 3, pages 51-77 World Scientific Publishing Co. Pte. Ltd..
    2. Calvo-Armengol, Antoni, 2001. "Bargaining power in communication networks," Mathematical Social Sciences, Elsevier, vol. 41(1), pages 69-87, January.
    3. Hendon, Ebbs & Tranaes, Torben, 1991. "Sequential bargaining in a market with one seller and two different buyers," Games and Economic Behavior, Elsevier, vol. 3(4), pages 453-466, November.
    4. Rachel E. Kranton & Deborah F. Minehart, 2001. "A Theory of Buyer-Seller Networks," American Economic Review, American Economic Association, vol. 91(3), pages 485-508, June.
    5. Muthoo,Abhinay, 1999. "Bargaining Theory with Applications," Cambridge Books, Cambridge University Press, number 9780521576475, April.
    6. Drew Fudenberg & Jean Tirole, 1983. "Sequential Bargaining with Incomplete Information," Review of Economic Studies, Oxford University Press, vol. 50(2), pages 221-247.
    7. Corominas-Bosch, Margarida, 2004. "Bargaining in a network of buyers and sellers," Journal of Economic Theory, Elsevier, vol. 115(1), pages 35-77, March.
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    Cited by:

    1. Matteo M. Galizzi, 2009. "Bargaining and Networks in a Gas Bilateral Oligopoly," Working Papers 0906, University of Brescia, Department of Economics.

    More about this item

    Keywords

    Gas Industry; Bargaining; Networks; Thin markets;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
    • L7 - Industrial Organization - - Industry Studies: Primary Products and Construction

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