منابع مشابه
Equilibrium Models for Multi-commodity Auction Market Problems
We propose an extension of the auction market model for the case where the market deals with many commodities and participants have binding constraints. Besides, the model includes external economic agents. We show that the formulation is an extended primal-dual system of variational inequalities or a convex-concave saddle point problem, however, cost functions require different treatment. We s...
متن کاملMarket Power in Commodity Crisis
This paper shows that changes in market power explain one of the major commodity crises in recent history. I estimate coffee bean demand and then use the estimates jointly with a model of supply side to recover the effectiveness of the export quota agreement. Of the 73.7% price decline between 1988 and 2001, 53.7% points are attributed to the 1989 cartel breakdown. Growing exports from Vietnam ...
متن کاملCommodity futures and market efficiency
a r t i c l e i n f o We analyze the market efficiency of 25 commodity futures across various groups—metals, energies, soft commodities , grains and other agricultural commodities. To do so, we utilize the recently proposed Efficiency Index to find out that the most efficient among all of the analyzed commodities is heating oil, closely followed by WTI crude oil, cotton, wheat, and coffee. On t...
متن کاملOn Resource-Oriented Multi-Commodity Market Computations
In search for general equilibrium in multi-commoditymarkets, price-oriented schemes are normally used. That is, a set of prices (one price for each commodity) is updated until supply meets demand for each commodity. In some cases such an approach is very inef cient, and a resource-oriented scheme can be highly competitive. In a resource-oriented scheme the allocations are updated until the mark...
متن کاملCommodity durability, trader specialization, and market performance.
The original double auction studies of supply and demand markets established their strong efficiency and equilibrium convergence behavior using economically unsophisticated and untrained subjects. The results were unexpected because all individual costs and values were private and dependent entirely on the market trading process to aggregate the dispersed information into socially desirable out...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Statistics and Economics
سال: 2015
ISSN: 2500-3925
DOI: 10.21686/2500-3925-2015-2-194-198