p, li { white-space: pre-wrap; } This paper gives a sufficient condition under which a non-competitive model separates the equilibrium outcomes from the details of the asset structure, and hence permits the pricing of non-traded derivatives by means of no-arbitrage conditions. We demonstrate that our sufficient condition holds in a number of standard models, including the models of monopoly, Cournot, and Stackleberg. In contrast, Nash equilibrium in the well-known model of strategic market games proposed by Lloyd Shapley and Martin Shubik does not allow for the pricing of non-traded derivatives, and we explain why this is the case.