Spatial Price Adjustment with and Without Trade
نویسندگان
چکیده
منابع مشابه
Speed of price adjustment with price conjectures
We derive a measure of firm speed of price adjustment that is directly inversely related to market power and compare this to the measure derived by Martin (1993). However, both measures are incorrect when firms have non-zero price conjectural variations and treat competing price levels as exogenous. This is because Taylor series expansions of the demand function implicitly assume that firms inf...
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The least squares adjustment (LSA) method is studied as an optimisation problem and shown to be equivalent to the undamped Gauss-Newton (GN) optimisation method. Three problem-independent damping modifications of the GN method are presented: the line-search method of Armijo (GNA); the LevenbergMarquardt algorithm (LM); and Levenberg-Marquardt with Powell dogleg (LMP). Furthermore, an additional...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1141886