caa a22 4500 606165568 CHVBK 20210128100654.0 cr unu---uuuuu 210128e20150101xx s 000 0 eng 10.1007/s00168-014-0648-7 doi (NATIONALLICENCE)springer-10.1007/s00168-014-0648-7 Price formulation and the law of one price in internationally linked markets: an examination of the natural gas markets in the USA and Canada [Elektronische Daten] [Kyle Olsen, James Mjelde, David Bessler] The degree to which the law of one price holds (integration) along with determining each individual markets' role in price discovery is examined for 11 major natural gas markets, six from the USA and five from Canada. Deregulation, technological advances, and trade agreements have opened the USA's and Canada's natural gas market to new and extensive interactions. The 11 natural gas market prices are tied together with ten long-run co-integration relationships with all markets included in the co-integration space, providing evidence the markets are integrated. The degree of integration varies by region. Markets geographically adjacent to each other tend to be more highly integrated than markets separated by distance. Further results indicate that there is no clear price leader among the 11 markets. Including more US and Canadian markets than previous studies, show markets in both eastern and western USA and Canada are important in the price discovery process. Springer-Verlag Berlin Heidelberg, 2014 Olsen Kyle Lariat Financial Services, 77845, College Station, TX, USA aut Mjelde James Department of Agricultural Economics, Texas A&M University, 77843-2124, College Station, TX, USA aut Bessler David Department of Agricultural Economics, Texas A&M University, 77843-2124, College Station, TX, USA aut The Annals of Regional Science Springer Berlin Heidelberg 54/1(2015-01-01), 117-142 0570-1864 54:1<117 2015 54 168 https://doi.org/10.1007/s00168-014-0648-7 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00168-014-0648-7 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Olsen Kyle Lariat Financial Services, 77845, College Station, TX, USA aut NATIONALLICENCE 700 1- Mjelde James Department of Agricultural Economics, Texas A&M University, 77843-2124, College Station, TX, USA aut NATIONALLICENCE 700 1- Bessler David Department of Agricultural Economics, Texas A&M University, 77843-2124, College Station, TX, USA aut NATIONALLICENCE 773 0- The Annals of Regional Science Springer Berlin Heidelberg 54/1(2015-01-01), 117-142 0570-1864 54:1<117 2015 54 168