scholarly journals Market power analysis in Mongolian wheat industry

2020 ◽  
Vol 14 (3-4) ◽  
pp. 71-76
Author(s):  
Erdenebat Purev ◽  
Purev Byamba
Keyword(s):  
Market Economy ◽  
Power Analysis ◽  
Supply And Demand ◽  
Market Equilibrium ◽  
Economic Sector ◽  
Wheat Seed ◽  
Market Mechanisms ◽  
Demand Functions ◽  
Current State ◽  
Wheat Market

Mongolia has been in transition from a planned economy to a market economy for more than 20 years. In many sectors of the economy, it is necessary to define which market mechanisms exist. Grain occupies important economic sector in Mongolian economy. The current state of the wheat market has been studied based on NEIO research methods. In this study, the data for years from 2000 to 2017 and from 2007 to 2017 about wheat and wheat seed sector were taken through 6 indicators. We estimated the supply and demand functions for wheat and wheat seed. Using these functions, we defined market behavior, cost function, price elasticities, and market equilibrium. The capacity setting for product prices of wheat producers is weak, and this market is likely free-style competition.

scholarly journals Existence of an Equilibrium for Lower Semicontinuous Information Acquisition Functions

2014 ◽  
Vol 2014 ◽  
pp. 1-11
Author(s):  
Agnès Bialecki ◽  
Eléonore Haguet ◽  
Gabriel Turinici
Keyword(s):  
Information Acquisition ◽  
Trading Volume ◽  
Lower Semicontinuous ◽  
Supply And Demand ◽  
Market Equilibrium ◽  
Equilibrium Price ◽  
Costly Information ◽  
Demand Functions ◽  
Systematic Biases ◽  
Period Model

We consider a two-period model in which a continuum of agents trade in a context of costly information acquisition and systematic heterogeneous expectations biases. Because of systematic biases agents are supposed not to learn from others' decisions. In a previous work under somehow strong technical assumptions a market equilibrium was proved to exist and the supply and demand functions were proved to be strictly monotonic with respect to the price. Here we extend these results under very weak technical assumptions. We also prove that the equilibrium price maximizes the trading volume and further additional properties (such as the antimonotonicity of the trading volume with respect to the marginal information price).

scholarly journals Opening Up Transactive Systems: Introducing TESS and Specification in a Field Deployment

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3970
Author(s):  
Marie-Louise Arlt ◽  
David P. Chassin ◽  
L. Lynne Kiesling
Keyword(s):  
Power Systems ◽  
Distribution System ◽  
Supply And Demand ◽  
System Level ◽  
Market Mechanisms ◽  
Bidding Strategies ◽  
Incentive Problems ◽  
Tariff Structures ◽  
Field Deployment ◽  
Residential Demand

Transactive energy systems (TS) use automated device bidding to access (residential) demand flexibility and coordinate supply and demand on the distribution system level through market processes. In this work, we present TESS, a modularized platform for the implementation of TS, which enables the deployment of adjusted market mechanisms, economic bidding, and the potential entry of third parties. TESS thereby opens up current integrated closed-system TS, allows for the better adaptation of TS to power systems with high shares of renewable energies, and lays the foundations for a smart grid with a variety of stakeholders. Furthermore, despite positive experiences in various pilot projects, one hurdle in introducing TS is their integration with existing tariff structures and (legal) requirements. In this paper, we therefore describe TESS as we have modified it for a field implementation within the service territory of Holy Cross Energy in Colorado. Importantly, our specification addresses challenges of implementing TS in existing electric retail systems, for instance, the design of bidding strategies when a (non-transactive) tariff system is already in place. We conclude with a general discussion of the challenges associated with “brownfield” implementation of TS, such as incentive problems of baseline approaches or long-term efficiency.

Sismondi’s Price Theory: From a Liberating to a Despotic Market

2021 ◽  
Vol 53 (4) ◽  
pp. 697-720
Author(s):  
Pascal Bridel
Keyword(s):  
Political Economy ◽  
Market Economy ◽  
Supply And Demand ◽  
Price Theory ◽  
Analytical Issue ◽  
Ricardian Approach ◽  
Wealth Of Nations

This article examines the evolution of Sismondi’s price theory as well as his concept of market from 1803 to 1838. Sismondi’s early 1803 price theory in terms of supply and demand is first examined and contrasted with that of Smith in the Wealth of Nations. The progressive alterations brought to this initial formulation are discussed with the help of the relevant chapters from Nouveaux Principes ([1819] 1827) and from Études (1836–1838). In price theory terms, throughout the years Sismondi grew more and more skeptical about the process through which these prices would come about. Connecting this analytical issue with his concept of republican justice, he comes to the conclusion that a market economy characterized by unlimited competition will never lead to a socially desirable solution: such an order is neither efficient, nor natural or spontaneous and political economy is not morally neutral. In short, for Sismondi, the market never stood alone while, for him, the Ricardian approach gave nearly exclusive pride of place to market in the pursuit of wealth and happiness.

scholarly journals IMPROVING THE INTERACTION OF SMALL AND MEDIUM-SIZED ENTERPRISES WITH BANKS IN THE PROCESS OF CREDIT INTERRELATIONS

2018 ◽  
pp. 95-103
Author(s):  
Ihor HUTSAL
Keyword(s):  
Market Economy ◽  
Financial Intermediation ◽  
Mutual Influence ◽  
Supply And Demand ◽  
Regional Level ◽  
Economic Feasibility ◽  
Financial Contracts ◽  
Effective Collaboration ◽  
Market Infrastructure ◽  
Economic Expediency

Introduction. The article outlines the directions of interaction of SMEs with banks, attention is focused on mutually beneficial cooperation of entities market economy because of the interdependence of their relationship. It is confirmed that the interaction between SMEs and banks in the process of financial intermediation is carried out by mutual influence that happens within the existing communications and is accompanied by the exchange of resources and their obligations based on operational needs and financial capabilities and economic feasibility. Purpose. For effective collaboration and interaction between SMEs and banks it is necessary to implement the motivational principles at the regional level through the development of market infrastructure. On the first phase should be solved the problem of matching supply and demand of credit resources, mainly through refinancing of banks according to the needs of SMEs. Results. The next phase requires implementation of customer-oriented strategy of SMEs’ needs on the part of banks by systematization and standardization of banking products. Ideal variants for meeting the needs of SME banking products – are special loan programs, which are clustered approaches indeed. Conclusion. It is proved that the interaction of SMEs and banks is carried out by mutual influence between them in the process of sharing resources and obligations within financial contracts. Such interaction is based on operational needs and financial possibilities, economic expediency.

Competition with supply and demand functions

2001 ◽  
Vol 23 (3) ◽  
pp. 253-277 ◽  
Author(s):  
Friedel Bolle
Keyword(s):  
Supply And Demand ◽  
Demand Functions

Canada-U.S. softwood lumber dispute: background.

2021 ◽  
pp. 10-26
Author(s):  
G. Cornelis van Kooten ◽  
Harry Nelson ◽  
Fatemeh Mokhtarzadeh
Keyword(s):  
Supply And Demand ◽  
Tariff Rate ◽  
Gains From Trade ◽  
Excess Supply ◽  
Demand Functions ◽  
Softwood Lumber ◽  
Modeling Approaches ◽  
Tariff Rate Quotas ◽  
Export Taxes ◽  
History Of

Abstract In this chapter, we examine the importance of softwood lumber production to Canada's economy and provide a brief history of the Canada-U.S. softwood lumber dispute and its resolution on various occasions using U.S. countervailing and anti-dumping duties, export taxes or various types of quota regimes, including tariff rate quotas. The construction of excess supply and demand functions is explained, as are the gains from trade. This helps inform the modeling approaches that are identified in later chapters.

An Agent-Based Model to Forecast the Inflation Rate in the Eurozone

2017 ◽  
pp. 72-92
Author(s):  
Juan Luis Santos ◽  
Jagoda Anna Kaszowska ◽  
Tomás Mancha Navarro
Keyword(s):  
Financial Institutions ◽  
Inflation Rate ◽  
Phillips Curve ◽  
Supply And Demand ◽  
Single Agent ◽  
Market Equilibrium ◽  
Agent Based Model ◽  
Agent Based ◽  
Long Run ◽  
Inflation Rates

The aim of the agent-based model presented in this chapter is to explain the determinants of inflation and to forecast the inflation rate in the Eurozone for the next five years. The behaviors of agents and their expectations are interrelated and explained by macroeconomic models applied to heterogeneous agents of three classes: individuals, companies and financial institutions. In addition, the behavior of public sector and central bank is also modeled with a single agent of each kind. Once the quantitative easing policy is implemented, the quantitative theory of money expects higher inflation rates in the long run. Inflation should remain low taking into account the Phillips-Curve. Last, according to the Aggregated Supply and Demand as well as to the Money Market equilibrium, the behaviors modeled allow forecasting low inflation. However, an external shock, as it would be an increase in the price of important commodities, can alter the inflation rate to a great extent.

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