scholarly journals Lucas’ Expectational Equilibrium, Price Rigidity, and Descriptive Realism

2021 ◽  
Author(s):  
Mauro Boianovsky
Keyword(s):  
Equilibrium Price ◽  
Price Rigidity

Competition Policy under Economic Crisis

2009 ◽  
pp. 54-69 ◽  
Author(s):  
A. Shastitko ◽  
S. Avdasheva ◽  
S. Golovanova
Keyword(s):  
Division Of Labor ◽  
Economic Crisis ◽  
Industrial Policy ◽  
Competition Policy ◽  
Transition Economy ◽  
Economic Recession ◽  
Price Rigidity ◽  
Key Factor ◽  
Policy Measures ◽  
The Impact

The analysis of competition policy under economic crisis is motivated by the fact that competition is a key factor for the level of productivity. The latter, in its turn, influences the scope and length of economic recession. In many Russian markets buyers' gains decline because of the weakness of competition, since suppliers are reluctant to cut prices in spite of the decreasing demand. Data on prices in Russia and abroad in the second half of 2008 show asymmetric price rigidity. At least two questions are important under economic crisis: the 'division of labor' between pro-active and protective tools of competition policy and the impact of anti-crisis policy on competition. Protective competition policy is insufficient in transition economy, especially in the days of crisis it should be supplemented with the well-designed industrial policy measures which do not contradict the goals of competition. The preferable tools of anti-crisis policy are also those that do not restrain competition.

Exchange Rate and Import Price Rigidity in Russia

2017 ◽  
Author(s):  
Yuriy Ponomarev ◽  
Yury Andreevich Pleskachev
Keyword(s):  
Exchange Rate ◽  
Import Price ◽  
Price Rigidity

scholarly journals Almost‐Maximization as a Behavioral Theory of the Firm: Static, Dynamic and Evolutionary Perspectives

2019 ◽  
Vol 56 (2) ◽  
pp. 237-258
Author(s):  
Huw Dixon
Keyword(s):  
Dynamic Behavior ◽  
Firm Behavior ◽  
Theory Of The Firm ◽  
Behavioral Theory ◽  
Price Rigidity ◽  
Price Setting ◽  
Term Survival ◽  
Sales Revenue ◽  
Evolutionary Perspectives

Abstract In this paper we consider the effect of epsilon maximization on firm behavior. In particular we focus on the dynamic behavior of firms with the use of the example of price‐setting: We show how almost-rational firms can be more volatile in their behavior. However, if a lexicographic preference for simplicity is made, then we can explain nominal price rigidity as a result of epsilon optimization. The behavior of the firm—which is consistent with its long‐term survival—is examined. We argue that epsilon-optimization is consistent with survival in any context in which something is optimized: such as sales revenue.

An equilibrium price model of spot and forward shipping freight markets

2012 ◽  
Vol 48 (4) ◽  
pp. 730-742 ◽  
Author(s):  
Koichiro Tezuka ◽  
Masahiro Ishii ◽  
Motokazu Ishizaka
Keyword(s):  
Equilibrium Price ◽  
Price Model

scholarly journals Maturity, Indebtedness, and Default Risk

2012 ◽  
Vol 102 (6) ◽  
pp. 2674-2699 ◽  
Author(s):  
Satyajit Chatterjee ◽  
Burcu Eyigungor
Keyword(s):  
Standard Deviation ◽  
Default Risk ◽  
Sovereign Debt ◽  
External Debt ◽  
Equilibrium Price ◽  
Short Term ◽  
Price Function ◽  
Output Ratio ◽  
Novel Method

We advance quantitative-theoretic models of sovereign debt by proving the existence of a downward sloping equilibrium price function for long-term debt and implementing a novel method to accurately compute it. We show that incorporating long-term debt allows the model to match Argentina's average external debt-to-output ratio, average spread on external debt, the standard deviation of spreads, and simultaneously improve upon the model's ability to account for Argentina's other cyclical facts. We also investigated the welfare properties of maturity length and showed that if the possibility of self-fulfilling rollover crises is taken into account, long-term debt is superior to short-term debt. (JEL E23, E32, F34, O11, O19)

Vulnerable Company’s Triumphs in M&A Negotiation under the Impact of COVID-19 — An Empirical Study of Asian Companies

2021 ◽  
pp. 2150012
Author(s):  
Tsai-Hsin Cheng ◽  
Chung-Jian Huang ◽  
Chao-Hsien Sung ◽  
Yi-Chang Huang
Keyword(s):  
Game Theory ◽  
Empirical Study ◽  
Mergers And Acquisitions ◽  
Strategic Alliances ◽  
Information Economics ◽  
Biotechnology Industry ◽  
Equilibrium Price ◽  
Cold Chain ◽  
Investment Valuation ◽  
The Impact

The worldwide lockdown caused by COVID-19 has led to the complete suspension of shipping, land transportation, and aviation. As a result of the redistribution of global resources, governments have recently advocated acquisitions and mergers with strategic alliances and vertical integrations to revitalize the economy. This study aims to investigate how the mergers and acquisitions (M&A) were negotiated and how the equilibrium price was achieved with game theory and information economics in agricultural and fishery biotechnology industry. The findings in the present study propose that by adopting investment valuation (asset-based approach, revenue method, market method) and presenting three patents (globally unique nondrug-denatured pure male tilapia and GPS [Formula: see text]C cloud cold chain logistics), the more the vulnerable company is able to attain a triumphant price during the negotiation of M&A.

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