Monopsony, Conjectural Equilibria, and the Swedish Roundwood Market
Earlier attempts to explain the excess demand for roundwood in Sweden overlook the strong elements of price discrimination in this market, i.e., that buyers pay different sellers different prices for homogeneous roundwood. This paper explains the latter feature by a variation of the theory of price discrimination under monopsony. By combining this approach with elements from the theory of conjectural equilibrium--explaining why a firm may perceive quantity constraints in a market even when prices are flexible--the paper then provides a possible explanation of excess demand tendencies (rationing) in a market, like the Swedish roundwood market, where price discrimination prevails. Forest Sci. 29:439-449.
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Document Type: Journal Article
Affiliations: Professor, Department of Forest Economics, College of Forestry, S-901 83 Umeå, Sweden
Publication date: 1983-09-01
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- Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
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