Competitivity in auction markets: an experimental and theoretical investigatioin

Article Abstract:

Empirical evidence from laboratory studies challenge the traditional view that competitive equilibrium can only result from an economic system having numerous players. Previous studies show that double auction experiments with only three or four traders results in equilibrium. This phenomenon is examined using three approaches: the traditionalist, the institutionalist and the as-if complete information theory. The last is based on the close correlation between Nash equilibrium in market games and competitive equilibrium.

Competition (Economics), Economic aspects, Auctions

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A squeezer round the corner? Self-regulation and forward markets

Article Abstract:

The effect of a squeeze is shows an oil producers' motivation to cooperate in a dynamic game. Two major parameters, the exogenous possibility of a squeeze and the interest rate, are found. The possibility of a squeeze must exceed r/(I + r) for a squeeze prevention to be highly beneficial for cooperating oil producers. If cooperating producers find the stocks to be optimal, an equivalent oligopoly of non-cooperating producers will also find the stocks to be optimal.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Crude Petroleum, Petroleum, Industry self-regulation, Industry self regulation, Futures

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Risk-return measures of hedging effectiveness: the case of multiple cash andfutures markets

Article Abstract:

An evaluation of the approach posited by C. Howard and L. D'Antonio (HD) on the quantification of hedging effectiveness as applied to multiple cash and futures markets was analyzed. It was discovered that the HD approach can be subdivided into two elements, the first is influenced by the futures market and the second by cash and futures markets in addition to the investor's invesment portfolio.

Hedging (Finance)

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