Agent-based simulations show that some kinds of speculators are able to stabilize the price in a market and to make this market more efficient. Instead of a single market, we consider a supply chain comprising a sequence of three markets in order to check that such speculators can also stabilize a supply chain. Specifically, we verify if these speculators reduce the price fluctuations caused by...

T tendency of orders to increase in variability as one moves up a supply chain is commonly known as the bullwhip effect. We study this phenomenon from a behavioral perspective in the context of a simple, serial, supply chain subject to information lags and stochastic demand. We conduct two experiments on two different sets of participants. In the first, we find the bullwhip effect still exists ...

producers and consumers’ price behavior were analyzed in chicken meat market in fars province. monthly average producers and consumers prices from june 1997 to july 2008 were taken into account. changes in the producer and consumer prices indicated that the prices follow an increasing trend with much fluctuations. marketing margin has an increasing trend of violent fluctuations. the result of g...

In Part II of this two-part paper, we analyze the marginal prices derived in Part I of this two-part paper within a robust optimization framework. The load and generation are priced at Locational Marginal Price (LMP) while the uncertainty and generation reserve are priced at Uncertainty Marginal Price (UMP). The Financial Transmission Right (FTR) underfunding is demonstrated when there is trans...

There is increasing evidence that aggregate housing price are predictable. Despite this, a random walk in time and independence in space are two maintained hypotheses in the empirical models for housing price measurement used by government agencies and by commercial companies as well. This paper examines the price discovery process in individual dwellings over time and space by relaxing both as...

the purpose of this study is to investigate the factors affecting the manufacturing industry wage among selected developing countries based on new economic geography theory. more specifically, we use a panel data model to study the spatial structure of wages in 136 countries for the period 1998-2007. the results indicate that this theory provides a good description of the spatial structure of w...