this paper presents a theoretical view of imperfect market. it concludes that an increase in the price of products does not give any incentive to increasing production which shows the mechanism for upward trends in prices.

I propose several mean-reversion jump-di usion models to describe spot prices of energy commodities that may be very costly to store. I incorporate multiple jumps, regime-switching and stochastic volatility into these models in order to capture the salient features of energy commodity prices due to physical characteristics of energy commodities. Prices of various energy commodity derivatives ar...

abstract in agriculture, there is a lag between planting decision and supplying the produced commodity to the market. this makes the marketed commodities as predetermined variables and prices as market clearing factor. under such a condition, the inverse demand function in which price is a function of quantity is an appropriate tool for forecasting price responses to the injected quantities to ...

We consider the problem of trajectory-based road pricing with the objective of reducing congestion on a road network. It is well-known that traffic conditions resulting from typical non-cooperative behavior of selfish drivers do not minimize total travel time spent on the road network. In the context of real-time GPS data collection from all vehicles, drivers can be charged differently based on...