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Author: Sven Erlander
Publisher: Montréal : Centre for Research on Transportation = Centre de recherche sur les transports
ISBN:
Category :
Languages : en
Pages : 64
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Author: Sven Erlander
Publisher: Montréal : Centre for Research on Transportation = Centre de recherche sur les transports
ISBN:
Category :
Languages : en
Pages : 64
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Book Description
Author: Gary Shung Chao
Publisher:
ISBN:
Category :
Languages : en
Pages : 264
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Book Description
Author: Janardan Bikram Khatri-Chhetri
Publisher:
ISBN:
Category : Municipal water supply
Languages : en
Pages : 196
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Book Description
Author: Patrick T. Harker
Publisher: Springer Science & Business Media
ISBN: 364246548X
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
The problem of predicting interregional commodity movements and the regional prices of these commodities has intrigued economists, geographers and operations researchers for years. In 1838, A. A. Cournot (1838) discussed the equilibrium of trade between New York and Paris and noted how the equilibrium prices depended upon the transport costs. Enke (1951) recognized that this problem of predicting interregional flows and regional prices could be formulated as a network problem, and in 1952, . Paul Samuelson (1952) used the then recent advances in mathe matical programming to formalize the spatial price equilibrium problem as a nonlinear optimization problem. From this formula tion, Takayama and Judge (1964) derived their quadratic program ming representation of the spatial price equilibrium problem, which they and other scholars then applied to a wide variety of problem contexts. Since these early beginnings, the spatial price equilibrium problem has been widely studied, extended and applied; the paper by Harker (1985) reviews many of these results. In recent years, there has been a growing interest in this problem, as evidenced by the numerous publications listed in Harker (1985). The reasons for this renewed interest are many. First, new applications of this concept have arisen which challenge the theoretical underpinnings of this model. The spatial price equilibrium concept is founded on the assumption of perfect or pure competition. The applications to energy markets, steel markets, etc. have led scholars to rethink the basic structure of this model.
Author: Marcotte, Patrice
Publisher: Montréal : Centre for Research on Transportation = Centre de recherche sur les transports
ISBN:
Category :
Languages : en
Pages : 50
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Author: Patrice Marcotte
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
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Paper proposing an efficient Newton-SOR algorithm for solving the separable spatial price equilibrium problem. The algorithms presented are aimed at solving the class of market equilibrium problems where supply, demand and transportation cost functions are nonlinear and separable. This approach consists in successive linearizations of the cost functions, each linearized subproblem being solved by a very fast block SOR (block Gauss-Seidel) scheme.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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This dissertation explores the applicability of recently developed simulation-based econometric methods to the analysis of spatial price determination and integration of markets. As such a measure of market integration is developed within the context of well-known point-location competitive price equilibrium model. Two markets are said to be integrated to the extent that an excess demand shock arising in one region is transmitted to the other region. This model imposes the market efficiency (i.e., the law of one price) and explicitly accounts for the nonlinear relationship between prices and underlying variables. A critical distinction from most of the current literature is that market integration is defined and estimated as a degree rather than a binary outcome. Simulation-based estimation approach to spatial market integration can be outlined as follows: summarize the information contained in prices in an auxiliary (reduced) model and match the parameters of the auxiliary model obtained from observed data to the parameters of the same model obtained from simulated data. The particular estimation framework used is known as the extit[indirect inference] methodology. The auxiliary model is chosen as a finite order Gaussian vector auto-regression for prices. The underlying variables, autarky prices and transaction costs, are modelled as low-order vector auto-regression. Transaction costs on each link is modelled as a function of a small number of common factors. After the structural parameter estimates are obtained the measure of market integration is approximated by simple Monte Carlo integration methods. The results from a set of controlled experiments indicate that the estimation strategy works reasonably well. It is also shown that simulation-based estimation methods can be useful for the two-location switching regime models with serially correlated underlying variables.
Author: Stanley R. Thompson
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We investigate the degree to which the wheat markets of France, Germany, and the United Kingdom are in spatial equilibrium and how reforms to the CAP affect the speed of convergence to the longrun relationship. Due to the interrelationship among these markets and the nonstationarity of our data we introduce a seemingly unrelated regression-augmented Dickey-Fuller and error correction methodology. We argue this methodology is more efficient than ordinary cointegration and error correction models. Empirically we find strong evidence of efficient spatial markets and conformity to the law of one price. Market liberalization reforms in the EU increased the comovement of domestic and world wheat prices; our post-Uruguay Round price transmission elasticity was 0.183.
Author: Raymond George Bressler
Publisher: John Wiley & Sons
ISBN:
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
Author: Leslie Curry
Publisher: Routledge
ISBN: 0429764448
Category : Business & Economics
Languages : en
Pages : 767
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Book Description
First published in 1998, this volume, spanning a lifetime's research, is a highly innovative first attempt at a consistent theoretical approach to the elements, structures and dynamics of the geography of agents, settlements and trade. Cause and effect are replaced by chance within constraints. Populations are substituted for unreal representative individuals, variability for uniformity, probabilistic process for unique history. Ignorance is a major factor in interpersonal and inter-areal commercial relations so that the focus is on flows of information and their effects on the efficiency of the economy or, alternatively, on changes in its information content. Recent work on spatial arrangements in many physical and social sciences is incorporated but always interpreted from an overriding geographical viewpoint. Key concepts are locational potential, distance friction, mobility, diffusion, spatial pattern and texture, adaptability, efficiency, spatial interaction and dependence. Analytic methods include autocovariance and transfer functions, areal special densities and entropy. Various forms of self-organization of economic spatial patterns are examined.
