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Browsing RSCAS Working Papers by Author "ARGENTON, Cédric"
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Title:Exclusion Through Speculation
Author(s):ARGENTON, Cédric; WILLEMS, BertDate:2011Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract: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 ...