Industry equilibrium under price distribution and cost shifts

Article Abstract:

An equilibrium model of industrial production where market price is random but endogenous relative to output was described using a required reference expected utility level. In addition, the effects of exogenous changes in the distribution of stochastic price and of cost shifts on industrial output were examined. Empirical results showed that the increase in industrial production is directly related to improvements in cost and demand conditions. The findings also emphasize the importance of identifying the nature of the relationship between industrial output and stochastic price.

Econometrics & Model Building, Pricing Policy, Models, Econometrics, Pricing, Business models, Cost (Economics), Costs (Economics)

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Equilibrium in production and futures markets

Article Abstract:

An analysis of production and futures equilibria in the context of risk aversion reveals that results are affected by assumptions of speculator non-productivity and entry/exit cost imposition. The study's results are in contrast with previous studies on hedging as only risk aversion behavior is sufficient to derive results. The study also reveals that econometric tests may be developed and applied using approaches of Frank and Antonovitz, among others.

Evaluation, Futures market, Futures markets, Statistics, Statistics (Data)

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Multi-output firm under price uncertainty

Article Abstract:

A representation for multi-output production problem is developed by analyzing multivariate price distributions.

United States, Distribution (Economics), Productivity

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