scholarly journals Sentiment-Augmented Supply and Demand Equations for the Dry Bulk Shipping Market

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 171
Author(s):  
Nektarios A. Michail ◽  
Konstantinos D. Melas
Keyword(s):  
Behavioral Economics ◽  
Supply And Demand ◽  
Supply Side ◽  
Future Expectations ◽  
Empirical Estimates ◽  
Bulk Shipping ◽  
Demand Curves ◽  
Three Stage Least Squares ◽  
Demand Equations ◽  
First Time

We present, for the first time in the literature, empirical estimates of the supply and demand curves for the ocean-going dry bulk sector, using a three-stage least squares methodology. Furthermore, we augment these functions with sentiment, which appears to have a positive and significant impact on supply. This supports the view that the outlook that shipowners have about the market will undoubtedly influence their decisions regarding purchasing vessels or bringing them out of lay up. Thus, our results highlight the fact that future expectations have an impact on current pricing, albeit indirectly, through their impact on the supply side. Our results further enhance the behavioral economics literature and provide important insights for both academics and professionals.

scholarly journals Does hosting on Airbnb offer hosts vacation-like benefits? Proposing a reconceptualization of peer-to-peer accommodation

2021 ◽  
Author(s):  
Sara Dolnicar ◽  
Hamid Talebi
Keyword(s):  
Word Of Mouth ◽  
Supply And Demand ◽  
Peer To Peer ◽  
Supply Side ◽  
Limited Ability ◽  
Tourism Marketing ◽  
Tourism Management ◽  
New Hosts ◽  
Tourism Services ◽  
First Time

Peer-to-peer accommodation is firmly positioned as a supply-side phenomenon. Hosts are seen as providers of services; they cater to the needs of guests. In contrast to this current understanding, we propose that hosting offers tourism-like benefits, suggesting – for the first time – that suppliers of tourism services may enjoy the benefits typically reserved for consumers of tourism services. As an initial empirical proof of principle of our proposition, we compare benefit patterns of real tourism with those of hosting and other potential travel alternatives. Hosting emerges as enabling residents to harvest some of the benefits of real tourism (which is particularly attractive to residents with limited ability to travel), and offering untapped opportunities for tourism management (accommodation capacity provision) and tourism marketing (word of mouth advertising). These results suggest that considering a reconceptualization of peer-to-peer accommodation as being both a supply- and demand-side phenomenon is warranted. Findings from this study can also help destinations to recruit new hosts, and highlight hosting as a travel alternative for people who are unable to engage in real travel.

An equilibrium displacement approach to analyzing the effects of tariff reduction on farmers’ profits

2016 ◽  
Vol 20 (4) ◽  
pp. 349-363 ◽  
Author(s):  
Byeong-Il Ahn ◽  
Jeong-Bin Im
Keyword(s):  
Cost Function ◽  
Supply And Demand ◽  
Differential Forms ◽  
Trade Agreement ◽  
Tariff Reduction ◽  
Content Type ◽  
Equilibrium Displacement ◽  
Demand Equations ◽  
The Individual ◽  
The Cost

Purpose The purpose of this paper is to develop an equilibrium displacement model (EDM) that is able to evaluate the impacts of a free trade agreement (FTA) on the profits of farmers. Empirical applications of the developed EDM are performed for evaluating the influences of Korea-Chile FTA on the grape industry in Korea. Design/methodology/approach Supply and demand equations together with profit function of individual farmers are converted into log-differential forms that compose the EDM. The cost function of grape producers is estimated for deriving the parameters that are required in applying the developed EDM. Findings The share of profit within revenue and the elasticity of cost with respect to quantity in the cost function play key roles in assessing the change in farmers’ profit. The empirical assessment of the effects of Korea-Chile FTA indicates that this FTA has little impact on the Korean grape market and grape producers in Korea. Originality/value Usefulness of the existing EDM has been limited in evaluating the impacts of exogenous shocks on the individual farmer level. This paper fills this gap by developing an EDM that assesses the impacts of tariff reduction on farm-level profit.

scholarly journals Giffen goods, backward bending supply curves, price controls and praxeology; or, who’s afraid of the big bad boogie man of giffen goods and backward bending supply curves? Not us

2021 ◽  
pp. 353-373
Author(s):  
Walter Block ◽  
William Barnett
Keyword(s):  
Key Words ◽  
Supply And Demand ◽  
Jel Classification ◽  
Logical Positivism ◽  
Price Controls ◽  
Resource Misallocation ◽  
Palabras Clave ◽  
Usual Manner ◽  
Demand Curves ◽  
The Status

What is the status of claims about the effects of minimum wage laws? Empirical or praxeological? We claim the latter. How can the effect of such legislation be best analyzed under the assumption of mis-behaving supply (backward bending) and demand (positively sloped, based on positing Giffen goods) curves? In the usual manner: resource misallocation still occurs. But this is only arguendo. More radically, such curves are themselves problematic. Even more radically, this, too, applies to «well behaved» supply and demand curves as well. Key words: Backward Bending Supply Curves, Price Controls, Praxeology, Giffen Goods, Logical Positivism. JEL Classification: D0. Resumen: ¿Cuál es el status del análisis sobre los efectos de las leyes de salario mínimo? ¿Empírico o praxeológico? Nosotros defendemos lo se gundo. ¿Pueden analizarse mejor los efectos de dichas leyes suponiendo curvas de oferta y demanda anómalas (como las de los bienes Giffen)? Como en el  nálisis tradicional se produce una mala asignación de recursos. En todo caso, tanto tales curvas, como las tradicionales son muy problemáticas. Palabras clave: Control de precios, praxeología, bienes de Giffen, positivismo lógico. Clasificación JEL: D0.

scholarly journals Group prenatal care: effectiveness and challenges to implementation

2019 ◽  
Vol 53 ◽  
pp. 85
Author(s):  
Zafiro Andrade-Romo ◽  
Ileana B. Heredia-Pi ◽  
Evelyn Fuentes-Rivera ◽  
Jacqueline Alcalde-Rabanal ◽  
Lourdes Bravo Bolaños Cacho ◽  
...  
Keyword(s):  
Prenatal Care ◽  
Alternative Model ◽  
Supply And Demand ◽  
Supply Side ◽  
Group Prenatal Care ◽  
Review Of The Literature ◽  
Model Of Care ◽  
Family Planning Services ◽  
Material Resources ◽  
Organizational Issues

Group prenatal care is an alternative model of care during pregnancy, replacing standard individual prenatal care. The model has shown maternal benefits and has been implemented in different contexts. We conducted a narrative review of the literature in relation to its effectiveness, using databases such as PubMed, EBSCO, Science Direct, Wiley Online and Springer for the period 2002 to 2018. In addition, we discussed the challenges and solutions of its implementation based on our experience in Mexico. Group prenatal care may improve prenatal knowledge and use of family planning services in the postpartum period. The model has been implemented in more than 22 countries and there are challenges to its implementation related to both supply and demand. Supply-side challenges include staff, material resources and organizational issues; demand-side challenges include recruitment and retention of participants, adaptation of material, and perceived privacy. We highlight specific solutions that can be applied in diverse health systems.

scholarly journals Characteristics Analysis of the Heat-to-Power Ratio from the Supply and Demand Sides of Cities in Northern China

Energies ◽  
2020 ◽  
Vol 13 (1) ◽  
pp. 242 ◽  
Author(s):  
Shunyong Yin ◽  
Jianjun Xia ◽  
Yi Jiang
Keyword(s):  
Supply And Demand ◽  
Northern China ◽  
Energy System ◽  
Energy Structure ◽  
Supply Side ◽  
Power Ratio ◽  
Demand Side ◽  
Demand And Supply ◽  
Heating Method ◽  
Urban Energy

Combined heat and power (CHP), an efficient heating method with cascades use of energy, accounts for approximately 50% of the heat sources in northern China. Many researchers have made significant efforts to improve its energy efficiency and environmental effects with important achievements. Given that the system produces heat and electricity at the same time, this study focuses on the role of CHP in the holistic urban energy system and points out the mismatch between the demand and supply sides of urban energy systems by using the heat-to-power ratio as a parameter. The calculation method and characteristics of the supply side heat-to-power ratio of eight heating methods and the maximum demand side heat-to-power ratio for 19 cities in northern China are displayed. After the analysis, it is concluded that (1) the maximum demand side heat-to-power ratio in the cities varies from 1.0 to 5.9, which is affected by the location and social, economic, and industrial structures. (2) In most of the cities, with the current energy structure, the demand side heat-to-power ratios are always larger than the supply side heat-to-power ratios. (3) The reduction in heating demand, surplus heat recovery, and the use of a highly efficient electric heating method, such as the heat pump, can help solve the mismatch of the heat-to-power ratio between the demand and supply sides. These conclusions can guide the urban energy planning and system construction.

scholarly journals EVOLUTION OF THE PRODUCTION AND PRICE OF FOREST BIOMASS FOR ENERGY

FLORESTA ◽  
2018 ◽  
Vol 49 (1) ◽  
pp. 011
Author(s):  
Thiago Manoel Sozinho ◽  
David Alexandre Buratto ◽  
Anadalvo Juazeiro Dos Santos ◽  
João Carlos Garzel Leodoro da Silva ◽  
José Roberto Frega
Keyword(s):  
Energy Production ◽  
Demand Curve ◽  
Supply And Demand ◽  
Forest Biomass ◽  
The State ◽  
Planted Forests ◽  
Native Forests ◽  
Demand Curves ◽  
The Right ◽  
Biomass For Energy

This study aimed to analyze the evolution of the production and price of biomass from native and planted forests of the state of Paraná (Brazil), between 1998 and 2015, based on the behavior of the prices of the products, according to variations of their supply or demand. The annual rates for growth of the price and quantity produced were calculated and related to the displacements of the supply and demand curves of the products. The results indicated a decrease in the quantity and an increase in the biomass price for native forests, which caused a shift in the supply curve to the left. For the biomass of planted forests, the demand curve shifted to the right due to the demand increase of this product for energy production. The behavior of both curves indicated a substitution of the biomass from native forests to biomass from planted forests due to factors related to the increase of environmental protection regarding the native forests located in the state of Paraná

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