In this paper we examine how increases in intertemporal price uncertainty affect the welfare of a consumer. In the preference structure of the consumer the coefficient of relative risk aversion and the elasticity of intertemporal substitution (EIS) are parametrically independent. We find that under empirically plausible circumstances, for each given degree of risk aversion an increase in price ...

We analyze the welfare impacts of price discrimination in a two-dimensional spatial differentiation model. Consumer information of varying qualities is available on one dimension which allows firms to price discriminate, and better information leads to more refined price discrimination. We find that as information quality improves, firms’ profits monotonically increase while consumer surplus an...

with the development of deregulated power systems and increase of prices in some hours of day and increase fuel price, demand response programs were noticed more by customers. demand response consists of a series of activities that governments or utilities design to change the amount or time of electric energy consumption, to achieve better social welfare or some times for maximizing the benefi...

We used (31)P MRS (magnetic resonance spectroscopy) measurements of energetic intermediates [ATP, P(i) and PCr (phosphocreatine)] in combination with the analytical tools of metabolic control analysis to study in vivo energy metabolism in the contracting skeletal muscle of anaesthetized rats over a broad range of workload. According to our recent MoCA (modular control analysis) used to describe...

the study investigates consumers’ preference for cowpea reflected in the nigerian markets through price discounts and premiums that consumers pay for different cowpea characteristics. the price data used for this study were obtained through a market survey. a common data collection protocol was employed. every month, between october 2009 to december 2010, five cowpea samples per seller were bou...

The producer-consumer model is a classic synchronization problem, exploring the division of labor between threads. Producers are responsible for creating or yielding items of some kind, while consumers are responsible for processing these items. The producer-consumer model is present in a wide array of multithreaded applications. It is commonly used to read data from high-throughput streaming A...

Critics of current tying doctrine argue that metering ties can increase consumer welfare and total welfare without increasing output and that they generally increase both welfare measures. Contrary to those claims, we prove that metering ties always lower both consumer welfare and total welfare unless they increase capital good output. We further show that under market conditions we argue are r...

This paper examines the effects of trade barriers on quality levels in a duopoly model for two countries with one producer in each country. The products are both vertically and horizontally differentiated. In absence of quality regulation, the two producers determine prices and quality levels in a two stage game. The firms choose the quality level in the first game, and their prices in the seco...

An attractive feature of competitive markets is that they maximize the sum of consumer and producer surplus. Producer and consumer surplus are shown in the market supply and market demand diagram in Figure 7-4. Recall that the producer surplus for all producers is the area above the supply curve and below the market price line, and that the consumer surplus for all consumers is the area below t...

Directional dispersal plays a large role in shaping ecological processes in diverse systems such as rivers, coastlines and vegetation communities. We describe an instability driven by directional dispersal in a spatially explicit consumer–producer model where spatial patterns emerge in the absence of external environmental variation. Dispersal of the consumer has both undirected and directed co...