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Price System (price + system)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting100%

Selected Abstracts

Duality Theory and Long,Period Price Systems

METROECONOMICA, Issue 4 2002
Arrigo Opocher
This paper concerns duality between long,period price systems in Sraffian models of production and the technologies of the various industries. We present a ,principle of duality between prices and technique' referred to a system of production, due to Bidard and Salvadori, and compare it with the usual textbook duality between cost and production functions, referred to firms/industries. We argue that the principle of duality for the system of production can be obtained, industry by industry, on the basis of the usual duality theory and that, in so doing, both ,dualities' are given a formulation more appropriate to firms/industries in long,period equilibrium. [source]

Seasonal protection of F&V imports in the EU: impacts of the entry price system

AGRICULTURAL ECONOMICS, Issue 2 2010
Jose-Maria Garcia-Alvarez-Coque
Entry price; Fruits and vegetables; Partial equilibrium; Trade policy Abstract The measures of border protection applied by the European Union (EU) to imports of fruits and vegetables (FV) are complex and usually not well represented in trade models, not only because of the range of instruments still constraining trade, but also because of product differentiation and seasonality in these products. This article assesses the impact of eliminating entry price (EP) constraints applied to a group of FV products. The proposed model is of a partial equilibrium nature and takes seasonality into account. We have applied the model to imports of tomatoes, cucumbers, clementines, and table grapes. Trade impacts of eliminating EP are significant for particular origins, during specific seasons, most notably for Moroccan tomatoes. The volumes and prices of products originating in the EU experience moderate reductions. [source]

An economic analysis of Japanese distribution systems

MANAGERIAL AND DECISION ECONOMICS, Issue 5 2003
Atsuo Utaka
We investigate Japanese distribution systems by using a successive monopoly model in which the dealer can increase demand for the commodity. We compare the Tatene system (TS) with the open price system (OPS), and show that in cases where the dealer's power of sales promotion is small (large), the total profits obtained through TS become larger (smaller) than those of the OPS. This result justifies the actual change from TS to OPS from an economic point of view. Copyright © 2003 John Wiley & Sons, Ltd. [source]

Basic Needs, Property Rights and Degradation Of Commons

PACIFIC ECONOMIC REVIEW, Issue 1 2003
Bharat R. Hazari
A major problem in many developing countries is the degradation of commons. This degradation has occurred on account of the lack of fulfilment of the basic needs of the poor, free riding and ill,defined property rights. As these goods are essential for the survival of these people, they have to access these items from commons. This results in regular raids to common land for resources and also to private houses (for example, in New Delhi) which are not guarded for water. A variant of the agricultural household model is used to analyse the above problem. Several propositions are established and it is demonstrated that degradation can occur at both a low and high price of basic needs. This result has important policy implications as it demonstrates that land or common degradation cannot be solved by just using the price system. Properly defined property rights and provision of basic goods in kind may resolve the problem of degradation of commons. [source]

Strategic Information Acquisition in Capital Markets*

THE JAPANESE ECONOMIC REVIEW, Issue 3 2001
Andreas Szczutkowski
A simple model of an asset market is presented, where agents are asymmetrically informed and hence information is transmitted through the price system. Prior to the trading period, a group of traders is given the opportunity to decide in a collusive arrangement whether they want to undertake a (costless) analysis which yields information about the future dividends of a risky asset. It will be shown that the fully rational and risk-averse insiders can do better without the information, if the dividend volatility of the risky asset is sufficiently low. JEL Classification Numbers: D82, G14. [source]

Duality Theory and Long,Period Price Systems

METROECONOMICA, Issue 4 2002
Arrigo Opocher
This paper concerns duality between long,period price systems in Sraffian models of production and the technologies of the various industries. We present a ,principle of duality between prices and technique' referred to a system of production, due to Bidard and Salvadori, and compare it with the usual textbook duality between cost and production functions, referred to firms/industries. We argue that the principle of duality for the system of production can be obtained, industry by industry, on the basis of the usual duality theory and that, in so doing, both ,dualities' are given a formulation more appropriate to firms/industries in long,period equilibrium. [source]