). Unlike the previous works that address this issue, we suppose that the production of the real good is costly and depends … mainly of the price of an intermediate good produced locally by a privately-owned firm. We show that the real output of the … final good chosen by the insider as well as the price of the intermediate good set by the privately-owned firm are both …

the downstream market can raise the price of gas imports, as the bargaining power of European firms in the upstream market … downstream competition on the upstream price of gas. Though our analysis is limited by the assumption of a single gas producer … upstream, we can show that the price of gas imports either is not affected by oligopolistic competition in the downstream …