Browsing Working Papers by Author "WILLEMS, Bert"

DSpace/Manakin Repository

Browsing Working Papers by Author "WILLEMS, Bert"

Sort by: Order: Results:

  • Icon
    Title: Risk Spillovers and Hedging: Why do firms invest too much in systemic risk?  Author(s): WILLEMS, Bert; MORBEE, Joris Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: In this paper we show that free entry decisions may be socially ineffcient, even in a perfectly competitive homogeneous goods market with non-lumpy investments. In our model, inefficient entry decisions are the result of ...
  • Icon
    Title: Exclusion Through Speculation  Author(s): ARGENTON, Cédric; WILLEMS, Bert Date: 2011 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: Many commodities are traded on both a spot market and a derivative market. We show that an incumbent producer may use purely financial derivatives to extract rent from a potential entrant. It can do so by selling derivatives ...