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Priority Service: Market Structure and Competition

Hung-po Chao, Shmuel S. Oren, Stephen A. Smith, and Robert B. Wilson

Year: 1988
Volume: Volume 9
Number: Special Issue 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI2-6
No Abstract



Market Structure Scenarios in International Steam Coal Trade

Johannes Truby and Moritz Paulus

Year: 2012
Volume: Volume 33
Number: Number 3
DOI: 10.5547/01956574.33.3.4
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Abstract:
The seaborne steam coal market has changed in recent years; demand has grown fast, important players have emerged, and since 2007 prices have increased significantly and remained relatively high. In this paper, we analyze steam coal market equilibria in the years 2006 and 2008 by testing for two possible market structure scenarios: perfect competition and an oligopoly setup with major exporters competing in quantities. The assumed oligopoly scenario cannot explain market equilibria for any year. While we find that the competitive model simulates market equilibria well in 2006, the competitive model is yet not able to reproduce real market outcomes in 2008. The analysis shows that not all available supply capacity was utilized in 2008. We conclude that either unknown capacity bottlenecks or more sophisticated non-competitive strategies were the cause for the high prices in 2008. Keywords: Steam coal trade, Mining costs, Market structure



Lessons Learned from Electricity Market Liberalization

Paul L. Joskow

Year: 2008
Volume: Volume 29
Number: Special Issue #2
DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-3
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Abstract:
This paper discusses the lessons learned from electricity sector liberalization over the last 20 years. The attributes of reform models that have exhibited good performance attributes are identified, drawing on empirical analysis of market structure, behavior and performance in many countries. Wholesale and retail market competition and network regulation performance evidence are discussed. Technical, economic, and political challenges to improving the efficiency of what continue to be partial liberalization programs in many countries are considered.





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