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Autor:innen: 
Erscheinungsjahr: 
2014
Quellenangabe: 
[Journal:] Contemporary Economics [ISSN:] 2084-0845 [Volume:] 8 [Issue:] 1 [Publisher:] Vizja Press & IT [Place:] Warsaw [Year:] 2014 [Pages:] 113-118
Verlag: 
Vizja Press & IT, Warsaw
Zusammenfassung: 
This note studies the influence of a financial transaction tax and transaction costs on the optimal production and hedging strategies of a duopoly. Firms are exposed to demand uncertainty that leads to price risk and can hedge their risk exposure on a forward market. However, the forward position is subject to transaction costs. We investigate two settings: first, we explore the Cournot duopoly with a simultaneous hedging opportunity; second, we analyze the case with a sequential forward market. We show that in both settings transaction costs lead to a less competitive market and that prices increase as the producers limit their output.
Schlagwörter: 
price risk
hedging
transaction cost
financial transaction tax
duopoly
JEL: 
D21
D43
F10
F11
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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