EconStor >
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin >
DIW-Diskussionspapiere >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/61392
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorHaftendorn, Clemensen_US
dc.date.accessioned2012-08-27en_US
dc.date.accessioned2012-08-27T12:52:10Z-
dc.date.available2012-08-27T12:52:10Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/61392-
dc.description.abstractBefore 2004 South Africa was the dominant steam coal exporter to the European market. However a new market situation with rising global demand and prices makes room for a new entrant: Russia. The hypothesis investigated in this paper is that the three incumbent dominant firms located in South Africa and Colombia reacted to that new situation by exerting market power and withheld quantities from the market in 2004 and 2005. Three market structure scenarios of oligopoly with a competitive fringe are developed to investigate this hypothesis: a Stackelberg model with a cartel, a Stackelberg model with a Cournot-oligopoly as leader and a Nash-bargaining model. The model with a Cournot oligopoly as leader delivers the best reproduction of the actual market situation meaning that the dominant players exert market power in a non-cooperative way without profit sharing. Furthermore some methodological clarifications regarding the modeling of markets with dominant players and a competitive fringe are made. In particular we show that the use of mixed aggregated conjectural variations can lead to outcomes that are inconsistent with the actions of rational profit-maximizing players.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion Papers, German Institute for Economic Research, DIW Berlin 1185en_US
dc.subject.jelL13en_US
dc.subject.jelL72en_US
dc.subject.jelC69en_US
dc.subject.jelC72en_US
dc.subject.ddc330en_US
dc.subject.keywordAtlantic coal marketen_US
dc.subject.keywordpartial equilibrium modelingen_US
dc.subject.keywordmarket poweren_US
dc.titleEvidence of market power in the atlantic steam coal market using oligopoly models with a competitive fringeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn722252048en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:DIW-Diskussionspapiere
Publikationen von Forscherinnen und Forschern des DIW

Files in This Item:
File Description SizeFormat
722252048.pdf652.92 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.