Ferreira, J.; Kujal, P.; Rassenti, S.

Multiple openings and competitiveness of forward markets: experimental evidence

Article

Ferreira, J., Kujal, P. and Rassenti, S. 2016. Multiple openings and competitiveness of forward markets: experimental evidence. PLoS ONE. 11 (17), pp. 1-16. https://doi.org/10.1371/journal.pone.0158098

Publication dates
Type	Article
Title	Multiple openings and competitiveness of forward markets: experimental evidence
Authors	Ferreira, J., Kujal, P. and Rassenti, S.
Abstract	We test the competition enhancing effect of selling forward in experimental Cournot duopoly and quadropoly with multiple forward markets. We find that having two forward periods yields competitive outcomes and that the results are very close to the predicted theoretical results for both quantity setting duopolies and quadropolies. Our experiments lend strong support to the hypothesis that forward markets are competition enhancing. We then test a new market that allows for endogenously determined indefinitely many forward periods that only close when sellers coordinate on selling a zero amount in a forward market. We find that the outcomes under an endogenous close rule are also very competitive. These results hold for both duopolies and quadropolies.
Language	English
Publisher	Public Library of Science
Journal	PLoS ONE
ISSN	1932-6203
Print	21 Jul 2016
Publication process dates
Deposited	07 Jul 2016
Accepted	11 Jun 2016
Output status	Published
Publisher's version	journal.pone.0158098Kujal_pub.PDF License CC BY 4.0
Copyright Statement	© 2016 Ferreira et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited (http://creativecommons.org/licenses/by/4.0/).
Web address (URL)	https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0158098
Digital Object Identifier (DOI)	https://doi.org/10.1371/journal.pone.0158098

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