The neoclassical price adjustment equation stipulates that prices move toward equilibrium at a rate that is proportional to the excess demand, i.e., the difference between the demand and supply divided by the demand (at that price). However, the demand and supply are generally nonlinear functions of price. We show that the information on this nonlinear variation of demand and supply leads to a ...

the aim of this study was to represent effective componentsin demand chain which help organizations attain high performance levelsthrough identification of these components and determining theirdegree of importance. the following questions were major ideas of thisstudy: what are the most effective components in demand chain? andhow are they effective on organizational performance? to this end,m...

this paper estimates the determinants of inflation in iran using a linear and non- linear regression model over the period 1959-2008. in the model specification, the conventional variables (liquidity, production and exchange rate) as well as positive and negative oil revenue shocks, monetary disequilibrium, and demand gap are considered. the results show that nonlinear time series regression mo...

In this paper, the Bertrand's price competition in the retail duopoly with asymmetric costs is analyzed. Retailers sell substitute products in the framework of the classical economic order quantity (EOQ) model with linear demand function. The market potential and competitor price are considered to be the bifurcation parameters of retailers. Levels of the barriers to market penetration depending...

Perfect competition or Bertrand competition cause price to equal marginal cost, so that excise tax incidence can be illustrated with the most basic supply-demand diagram. Some results are: • excise taxes are shared by suppliers and demanders according to their relative price elasticities • holding revenue fixed, it doesn’t matter (for supply price, demand price, and quantity traded) whether the...

in trading electrical energy in deregulated power systems, violation of operation constraints such as transmission lines flow limits is possible. these conditions have been called “congestion”. one of the most important responsibility of independent system operator (iso) is congestion management in a manner that all the system equipments be operated in their nominal ranges. in this paper, usi...