Inventories and wage bargaining

Article Abstract:

An approximated relationship between inventory accumulation and wage bargaining requires two components such as an optimal union's bargaining behavior and and optimal firm's inventory rule. A state of equilibrium demonstrate that a firm decides to accumulate inventories even no uncertainty is detected. Furthermore, inventory accumulation reduces wages by decreasing rents from further production. Work stoppages can also occur even in the absence of uncertainty in a state of equilibrium.

Inventory Control, Econometrics & Model Building, Collective Bargaining, Econometrics, Labor unions, Inventories, Business models

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Martingales and arbitrage in securities markets with transaction costs

Article Abstract:

Dynamic securities markets characterized by bid-ask spreads without arbitrage were evaluated. The markets yielded an equivalent probability factor that conditioned bid and ask price processes of traded securities as martingale processes. The martingale variables indicated linear pricing rules and market opportunities for investment. Securities trading also yielded a contingent claim at minimum cost equal to a martingale-conditioned variable.

Research, Securities industry, Arbitrage, Martingales (Mathematics)

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