Regional market model for derived energy productsUploaded: 1 of January, 2008

We build an economic model that simulates the strategic wholesale market interactions between producers of derived energy products in Central, Eastern, and South-East Europe. The model takes into account the simplified production technologies of the firms regarding their main products, the geographical structure of the markets (transportation costs), and the estimated demand characteristics in each country. The model is flexible enough to simulate both price taking and price setting behavior - the latter in the form of a spatial Cournot oligopoly. Competition from fringe market players is also taken into account.

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