The tradition of just price theory is generally regarded in contemporary economic literature, and certainly in media editorials and commentary, as an outmoded and naïve approach to commercial life. Price is determined by supply and demand in an adequate market; the rest is sentiment. Yet even so, various intuitions which involve some implicit account of unjust price survive. We suggest that our...

The relationship between demand and customer returns represents an important input to inventory planning models. While poor estimates of this relationship can dramatically increase inventory management costs (de Brito and van der Laan, 2002), there is surprisingly little research on the topic. In this paper we investigate the relationship between demand and returns by comparing how customers’ r...

Considering the importance of decision- making in investment, this study prioritizes the accepted pharmaceutical companies in Tehran stock exchange, during 2013-2017 using the following criteria: the return on investment (ROI), reminded increment (RI), return on sales (ROS) and the earnings per share (EPS). Price per earnings ratio of each share (P/E), return on equity (ROE), return on assets (...

1 Acknowledgements I wanted to thank my reader Professor Lisa Meulbroek for all that she has taught me about financial economics as well as her help on this paper. I would like to thank my mom and dad for the guidance and support they have shown me over my years. And lastly but certainly not least I want to thank my two little sisters, Amelia and Colleen, for being the best sisters I could ever...

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expresse...

The interest in predicting stock prices or returns is probably as old as the markets themselves, and the literature on the subject is enormous. Fama (1970) reviews early work and provides some organizing principles. This chapter concentrates selectively on developments following Fama's review. In that review, Fama describes increasingly fine information sets in a way that is useful in organizin...

In many emerging stock markets, price limits are imposed on the magnitude of daily price movements. Price limit advocates claim that such limits serve as "circuit breakers" and decrease stock price volatility. Critics argue that the limits cause supply and demand imbalances in trading. Consequently, they prevent immediate corrections in price and increase the volatility of the opening return on...

We present a novel microscopic stock market model consisting of a large number of random agents modeling traders in a market. Each agent is characterized by a set of parameters that serve to make iterated predictions of two successive returns. The future price is determined according to the offer and the demand of all agents. The system evolves by redistributing the capital among the agents in ...

Consumers evaluate the convenience of changing their products according to the price paid as well as the technology (quality) level. When the consumers wish to capitalize the products residual value, they should return them as early as possible. Accordingly, we develop a model of Closed-loop Supply Chain (CLSC) where consumers seek to gain as much as possible from their returns and the return r...