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Georgoutsos, D. "Essays in applied factor demand theory." Thesis, University of Essex, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.235460.
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Burghart, Daniel Robert. "Demand for public goods /." view abstract or download file of text, 2007. http://proquest.umi.com/pqdweb?did=1421618221&sid=2&Fmt=2&clientId=11238&RQT=309&VName=PQD.
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Thesis (Ph. D.)--University of Oregon, 2007.Typescript. Includes vita and abstract. Includes bibliographical references (leaves 109-115). Also available for download via the World Wide Web; free to University of Oregon users.
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Li, Chen. "Essays on the inventory theory of money demand." Thesis, University of British Columbia, 2007. http://hdl.handle.net/2429/417.
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The goal of this dissertation is to examine the theoretical and empirical implications of the inventory theoretic approach to the demand for money.
Chapter 1 reviews the existing inventory theoretic frameworks and empirical money demand literature and provides an overview of this thesis. One of the main conclusions is that the elasticity results from the existing inventory theoretic models are not robust.
Chapter 2 develops a partial equilibrium inventory theoretic model, in which a fixed cost is involved per cash transfer. The key feature is that a firm endogenously chooses the frequency of pay periods, which a household takes as given. When the firm must borrow working capital and pay wages by cheque, I show that both the firm and the household choose to transfer cash every payday only. The model keeps the basic result from the classical inventory theoretic approach that both the income and interest elasticity of money demand are 0.5.
Chapter 3 extends the partial equilibrium model into a general equilibrium framework and shows that the partial equilibrium elasticity results no longer apply in the general equilibrium. First, the income elasticity is 1 in the general equilibrium. Second, the interest elasticity has two values depending on a threshold interest rate. When interest rates are below this threshold, the model is the Cash-In-Advance model with a constant income velocity of money and zero interest elasticity; otherwise the interest elasticity is close to 0.5 and the velocity fluctuates in response to variations in interest rates. Finally, the general equilibrium elasticity results are robust across alternative specifications of the agent's utility.
Chapter 4 calibrates the general equilibrium model to the last 40 years of US data for M1. By constructing a residual measure of money transaction costs from the structural money demand function, I find that a structural break in the transaction costs occurred in 1981 might have been responsible for the instability of long-run money demand. The benefit of this approach is that it can explain this pattern of money demand without appealing to an exogenous structural break in the money demand function.
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Smith, Gregor W. "Stochastic inventory theory and the demand for money." Thesis, University of Oxford, 1986. http://ora.ox.ac.uk/objects/uuid:f7316a7f-5676-4d31-801c-a34aa5597b23.
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This thesis describes an inventory-theoretic approach to the study of the demand for money. It aims to connect money demand theory with optimal inventory theory on the one hand and with time series empirical evidence on the other. Thus it incorporates recent advances in inventory theory and extends these to allow the interest rate to follow a stochastic process. The problem of minimising the expected, discounted suns of cash-management costs is ascribed to an agent. Through the use of continuous-time, stochastic, optimal control an optimal cash-management policy is shown to exist and be of a familiar target-threshold form. Closed-form expressions for the forward-looking time-varying targets and thresholds are derived in special cases. The steady-state, Baumol-Tabin model, a further special case, also is examined in detail. The theory implies that expected future interest rates may influence money holdings despite the absence of strictly convex adjustment costs. A distributed-1ag expression for these holdings is proposed in which the adjustment and expectations dynamics are derived front theory. Aggregation over time and, to a lesser extent, over agents is treated explicitly. The econometric issues involved in testing models of the demand for money with rational expectations are outlined and simulation evidence on the predictions of the theory is provided. The theory gives rise to new predictions concerning expectations effects and variable adjustment speeds. It can also account for the findings of empirical research. In particular, it largely resolves the problem of slow adjustment in empirical money demand equations.
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Jo, Tae-Hee Lee Frederic S. "Microfoundations of effective demand." Diss., UMK access, 2007.
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Thesis (Ph. D.)--Dept. of Economics. University of Missouri--Kansas City, 2007."A dissertation in economics and social science consortium." Advisor: Frederic S. Lee. Typescript. Vita. Title from "catalog record" of the print edition Description based on contents viewed July 30, 2008. Includes bibliographical references (leaves 196-220). Online version of the print edition.
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Kaye-Blake, William Henry. "Demand for genetically modified food : theory and empirical findings." Phd thesis, Lincoln University. Commerce Division, 2006. http://theses.lincoln.ac.nz/public/adt-NZLIU20060913.102217.
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As economies develop, novel products are created and markets for these products arise. Genetically modified food (GMF) is an example of such a novel product and provides economists with the opportunity to investigate an infant market. Of particular interest with GMF is the impact of consumer reactions on the market. The response of consumers to GMF and their willingness to pay for it has emerged as an important factor in the development of this technology.
This research investigates these consumer responses. Prior research suggests that two aspects of consumer behaviour may be relevant for the GMF market. First, consumers may react differently to different types of GMF, so that some products are potentially more economically viable. Secondly, some consumers appear to prefer not having GMF at all.
Consumer behaviour is often framed according to neoclassical economic theory. Consumer preferences over goods and the attributes of those goods are generally held to have certain properties. The aspects of consumers reactions to GMF noted above, however, may be in conflict with two properties of preferences in neoclassical theory. First, preferences over food attributes are not separable, but may interact with each other. Secondly, some consumers may have preferences regarding GMF that are not continuous. As a result, aggregate impacts of introducing GMF may be difficult to measure, which raises a third issue for investigation, aggregation.
Finally, an alternative model of consumer behaviour is bounded rationality, which theorises that choices may be discontinuous as a result of specific protocols. It also suggests that consumers seek to make good-enough choices, rather than attempting to maximise their satisfaction. Thus, optimisation or maximisation is the fourth issue considered in this thesis.
In order to investigate these properties of consumers preferences, a choice experiment survey was developed. The strength of a choice experiment for examining these issues is its focus on the impact of each product attribute on a respondents choices. Thus, it may be possible to identify potentially discontinuous choice patterns and to identify choices affected by interactions between GM technology and other food attributes.
Results from a neoclassical analysis of the survey data suggest that some consumers consider the type of benefit created with GM technology in making their choices. In addition, one-quarter to one-half of respondents may have had discontinuous preferences with respect to GMF. Reactions to GMF appear related to respondents attitudes, but not to socio-economic or demographic descriptors. As a result, aggregate measures of the impact of GMF may not fully account for consumers responses. A boundedly rational model also has reasonable goodness of fit, and may provide a different perspective on consumer behaviour.
It is hoped that the results of this research provide a better understanding of consumer behaviour regarding GMF and, by extension, of the process of consumer adoption of novel products. It is further hoped that this attempt to incorporate choice protocols into discrete choice analysis will provide a useful example for further research.
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Kaye-Blake, William. "Demand for genetically modified food : theory and empirical findings." Lincoln University, 2006. http://hdl.handle.net/10182/19.
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As economies develop, novel products are created and markets for these products arise. Genetically modified food (GMF) is an example of such a novel product and provides economists with the opportunity to investigate an infant market. Of particular interest with GMF is the impact of consumer reactions on the market. The response of consumers to GMF and their willingness to pay for it has emerged as an important factor in the development of this technology. This research investigates these consumer responses. Prior research suggests that two aspects of consumer behaviour may be relevant for the GMF market. First, consumers may react differently to different types of GMF, so that some products are potentially more economically viable. Secondly, some consumers appear to prefer not having GMF at all. Consumer behaviour is often framed according to neoclassical economic theory. Consumer preferences over goods and the attributes of those goods are generally held to have certain properties. The aspects of consumers' reactions to GMF noted above, however, may be in conflict with two properties of preferences in neoclassical theory. First, preferences over food attributes are not separable, but may interact with each other. Secondly, some consumers may have preferences regarding GMF that are not continuous. As a result, aggregate impacts of introducing GMF may be difficult to measure, which raises a third issue for investigation, aggregation. Finally, an alternative model of consumer behaviour is bounded rationality, which theorises that choices may be discontinuous as a result of specific protocols. It also suggests that consumers seek to make good-enough choices, rather than attempting to maximise their satisfaction. Thus, optimisation or maximisation is the fourth issue considered in this thesis. In order to investigate these properties of consumers' preferences, a choice experiment survey was developed. The strength of a choice experiment for examining these issues is its focus on the impact of each product attribute on a respondent's choices. Thus, it may be possible to identify potentially discontinuous choice patterns and to identify choices affected by interactions between GM technology and other food attributes. Results from a neoclassical analysis of the survey data suggest that some consumers consider the type of benefit created with GM technology in making their choices. In addition, one-quarter to one-half of respondents may have had discontinuous preferences with respect to GMF. Reactions to GMF appear related to respondents' attitudes, but not to socio-economic or demographic descriptors. As a result, aggregate measures of the impact of GMF may not fully account for consumers' responses. A boundedly rational model also has reasonable goodness of fit, and may provide a different perspective on consumer behaviour. It is hoped that the results of this research provide a better understanding of consumer behaviour regarding GMF and, by extension, of the process of consumer adoption of novel products. It is further hoped that this attempt to incorporate choice protocols into discrete choice analysis will provide a useful example for further research.
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Stefancik, John. "Demand forecasting using Monte Carlo Multi-Attribute Utility Theory." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/104825.
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Thesis: S.M. in Technology and Policy, Massachusetts Institute of Technology, School of Engineering, Institute for Data, Systems, and Society, Technology and Policy Program, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 173-176).
Volatile commodity prices over the past decade, environmentally-focused policy initiatives and new technology developments have forced manufacturers to consider the idea of substituting towards alternative materials in order meet both consumer and societal needs. The threat of substitution has created the need for manufacturing firms and other members of the supply chain to have the ability to understand the implications of substitution on future product market shares and overall raw material demand. This thesis demonstrates how Multi-Attribute Utility Theory (MAUT) can be extended to the group level to forecast future market shares by applying a distribution to the attribute weights and using a Monte Carlo simulation to capture the choices made by a heterogeneous set of decision makers. Unlike established demand forecasting techniques, such as discrete choice models, this methodology requires only a few data points from a handful of expert interviews and allows for systematic changes of preferences over time. Furthermore, the Monte Carlo MAUT methodology utilizes both revealed preference and stated preference data by integrating the two data types through a response surface methodology. Two case studies on underground distribution and overhead distribution power cables are explored in order to illustrate how the Monte Carlo MAUT methodology can be successfully applied in cases where there are diverse product types, limited numbers of decisions makers and historical market share data is sparse. Each case study illustrates how Monte Carlo MAUT can, on a regional basis, provide key insights into the impacts of changing commodity prices, changing product attribute levels, varying new technology learning rates and changing consumer preferences over time. Furthermore, an example of how Monte Carlo MAUT can be utilized to help policymakers evaluate the advantages, disadvantages and overall impact of different policy schemes within an environmental context is provided. Private firms and public governments alike can utilize Monte Carlo MAUT to improve their understanding of how market shares are likely to change over time, and more importantly, the key decisions needed on each party's behalf in order to maximize societal well-being.
by John Stefancik.
S.M. in Technology and Policy
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Fan, Terence P. "Market-based airport demand management : theory, model and applications." Thesis, Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/44611.
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Thesis (Ph. D. in Transportation Systems and Policy Analysis)--Massachusetts Institute of Technology, Engineering Systems Division, 2004.Includes bibliographical references (p. 119-123).
The ever-increasing demand for access to the world's major commercial airports combined with capacity constraints at many of these airports have led to increasing air traffic congestion. In particular, the scarcity of airside (take-off and landing) capacity at these airports has not been appropriately priced, leading to excessive demand as in the Tragedy of the Commons. Congestion pricing, as a classical economic approach to the efficient allocation of constrained transportation infrastructure capacity, has a long history of theoretical development. However, its application in the airport setting must deal with a set of important differences from the classical urban roadway setting. These differences have eluded the attention of researchers until very recently. They stem from the following set of complications: i) the peak and off-peak periods at congested airports are often less distinguishable than in the urban transport context; ii) airlines are a dominant intermediary between an airport's capacity and passengers as the end-users of that capacity; and iii) airlines operate groups of flights, as distinct from the atomistic behaviour of individual commuters. To address these complications, an analytical model is developed to explore the impact of congestion pricing at airports and understand potential airline responses under a range of assumptions about the market's structure. Through a set of numerical experiments, carried out with the help of a probabilistic queuing model, we compare the economic benefits resulting from adopting fine versus coarse congestion tolls for the cases of markets with symmetric and asymmetric carriers. Given sustained demand for access to an airport and reasonably elastic responses in terms of frequency adjustments,
(cont.) the benefits to carriers of instituting congestion pricing generally exceed the amount of tolls collected. While a system of fine or graduated tolls is suited for all airports, systems of coarse or uniform tolls, which can be implemented more easily, are applicable only at airports with fairly symmetric carriers that hold approximately equal frequency shares. In addition to congestion pricing, slot lease auctions can also be an effective means for promoting an economically efficient use of scarce airport capacity. In practice, the impact of slot lease auctions is similar to that of coarse tolling. Slot auctions are therefore applicable, in pure form, at airports with symmetric carriers. At these airports, a market-based demand management policy can comprise both congestion pricing and slot lease auctions. With respect to implementation, simultaneously ascending auctions recently used in the context of allocating electromagnetic spectra can be appropriately adopted to airports. A lump-sum subsidy can be used to promote specific socially desirable goals in the allocation of scarce airport capacity. Several airport authorities around the world, currently using purely administrative or hybrid forms of demand management, have developed sophisticated techniques for defining and managing their constrained airport capacity. Some of these techniques can be useful in developing market-based demand management policies. As an interesting case study, the experience of New York's LaGuardia Airport (LGA) ...
by Terence Ping-Ching Fan.
Ph.D.in Transportation Systems and Policy Analysis
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Herminghaus, Stephan. "Mean field theory of demand responsive ride pooling systems." Elsevier, 2018. https://publish.fid-move.qucosa.de/id/qucosa%3A72220.
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The dynamics of demand responsive ride pooling (DRRP) systems is considered in a mean-field framework. The relevant dimensionless quantities determining the performance and viability of the system are identified. In the presence of an already established dominant market participant with comparable service quality (like, e.g., the private car), the mutual interaction of the actors (i.e., the customers sharing rides) by virtue of the route assignment algorithm gives rise to a discontinuous transition between two strongly different modes of operation. One of them represents the typical (unfavorable) performance of current ride pooling systems, while the other represents a new mode of operation in which virtually all customers use DRRP.
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Ozkaya, Evren. "Demand management in global supply chains." Diss., Atlanta, Ga. : Georgia Institute of Technology, 2008. http://hdl.handle.net/1853/26617.
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Thesis (Ph.D)--Industrial and Systems Engineering, Georgia Institute of Technology, 2009.Committee Chair: Keskinocak, Pinar; Committee Co-Chair: Vande Vate, John; Committee Member: Ferguson, Mark; Committee Member: Griffin, Paul; Committee Member: Swann, Julie. Part of the SMARTech Electronic Thesis and Dissertation Collection.
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Vashi, Vidyut H. "The effect of price, advertising, and income on consumer demand : an almost ideal demand system investigation /." Diss., This resource online, 1994. http://scholar.lib.vt.edu/theses/available/etd-06062008-165751/.
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Mayhew, Brian William 1967. "Reputation building and the demand for auditing." Diss., The University of Arizona, 1997. http://hdl.handle.net/10150/289400.
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The purpose of this dissertation is to examine the role auditor reputation plays in the demand and supply of audits and to examine the process by which an auditor builds a reputation for audit quality. The goal is to begin to develop a comprehensive theory of the demand for auditing and the incentives this demand creates for the supply of audits. Scott (1984) cites a lack of theory capturing the precise nature of the auditor's contribution to a production and exchange economy. This paper uses an experimental economy and related model to examine the role of an auditor's reputation for delivering high quality audits in such a multiple period economy. A theory of the demand and supply of audits is necessary to help assess the need for regulation of the audit market. The need for regulation in existing audit markets has been questioned by some members of the auditing profession (Arthur Andersen, et. al. 1992). In response, experimental economic markets (EEM) research has examined different regulatory regimes (Dopuch and King 1992, Dopuch et. al., 1994). However, this research has not examined whether reputation can serve as a substitute for regulation in motivating the supply of high quality audits. Existing EEM research has provided some evidence of reputation effects in general (DeJong, et. al., 1985, Dopuch and King 1991) but has produced limited evidence of auditor reputation. Unlike prior EEM research, this paper explicitly examines auditor reputation. Three different experimental treatments were used to test the derived model: one treatment with robot investors and two treatments with human investors. The robot investor replications produced strong support for an auditor reputation model. Two of six human investor replications supported an auditor reputation model while the other four collapsed into markets for lemons. The markets suggest that the managers' demand for audit quality drove the level of audit quality supplied by auditors. When the managers did not demand and auditors did not supply high quality audits, the markets collapsed.
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Iaria, Alessandro. "Essays on choice set heterogeneity in demand estimation." Thesis, University of Warwick, 2014. http://wrap.warwick.ac.uk/62609/.
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The estimation of demand systems is a key activity in empirical economics. The most prominent use of demand estimates relates to the computation of social welfare changes due to modifications in the economic environment. Examples include the introduction of a new tax (Griffith et al. 2010), a change in the regulation of an industry (Crawford & Yurukoglu, 2011), the introduction of a new product (Petrin, 2002), mergers between companies (Nevo, 2000, 2001), the legalization of soft drugs (Jacobi & Sovinsky, 2012). Any sort of welfare exercise, essential for policy making, would require—ideally—perfect knowledge of the economy; in particular individuals’ preferences. In practice, individuals’ preferences cannot be directly observed and have to be estimated. Economic policies based on biased demand estimates may prove rather ineffective or, even worse, counterproductive. In the practice of demand estimation, the empirical literature has prevalently favoured the use of discrete choice models. An individual is represented by a preference relation and, under the assumption of preference maximization, chooses one alternative among a finite collection of them, the choice set. It has been commonly assumed choice set homogeneity among individuals: that is, each decision-maker faces the same set of alternatives. This is a strong assumption that is likely violated in many settings: different individuals involved in apparently similar choice situations do face heterogeneous choice sets. Unfortunately, the very presence of choice set heterogeneity raises new challenges on the way of consistent estimation of consumers’ preferences, i.e., meaningful welfare analyses.
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Adams, Abigail. "The nonparametric approach to demand analysis : essays in revealed preference theory." Thesis, University of Oxford, 2013. http://ora.ox.ac.uk/objects/uuid:d2a548aa-e720-4975-802b-e55d08dec9e6.
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This thesis comprises three principal essays, each of which provides a contribution to the literature on the nonparametric approach to demand analysis. In each essay, I develop novel techniques that follow in the revealed preference tradition, and apply them to tackle a series of questions that concern the mechanisms underlying consumer spending decisions. Each technique developed is tightly linked to a particular nonparametric theory of choice behaviour and is explicitly designed for use with a finite set of observations. My work draws heavily upon results from finite mathematics, into which I integrate insights from information theory and integer programming. The output of this endeavor is a set of methodologies that are largely free of auxiliary assumptions over the form of the unobserved structural functions of interest. Providing greater detail on the work to come, my first essay extends and clarifies the nonparametric approach to forecasting demand behaviour at new budget regimes. Using insights from information theory and integer programming, I construct an operational nonparametric definition of global rationality and develop a methodology that facilitates the recovery of globally rational individual demand predictions. This is the first attempt in the literature to develop a systematic methodology to impose global rationality on nonparametric demand predictions. The resulting forecasts allow for unrestricted preference heterogeneity in the population and I demonstrate how these predictions can be used for coherent welfare analysis. In my second and third essays, I prove new revealed preference testability axioms for models that extend the traditional neoclassical choice framework. Specifically, in my second essay, I address the intertemporal allocation of spending by collectives, whilst my final essay integrates taste variation into the utility maximisation framework. In both of these essays, I develop my testable results into practical algorithms that allow one to recover salient features of individual preferences. In my second essay, a methodology is developed to recover the minimal intrahousehold heterogeneity in theory-consistent discount rates, whilst my final essay develops a quadratic programming procedure that facilitates the recovery of the minimal interpersonal and intertemporal heterogeneity in tastes that is required to rationalise observed choice patterns. Applying these techniques to consumption micro-data yields new empirical insights that are of relevance to the applied literatures on time discounting, family economics and the public policy debate on tobacco control.
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Swami, Sanjeev. "Dynamic marketing decisions in the presence of perishable demand." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1998. http://www.collectionscanada.ca/obj/s4/f2/dsk2/ftp03/NQ34631.pdf.
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Grindley, Peter Conrad. "A strategic analysis of the diffusion of innovations : theory and evidence." Thesis, London School of Economics and Political Science (University of London), 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.308388.
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Chambers, Marcus James. "Durability and consumers' demand : Gaussian estimation and some continuous time models." Thesis, University of Essex, 1989. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.238563.
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Li, Yongquan. "Demand information in supply chain manangement [i.e. management] /." View abstract or full-text, 2008. http://library.ust.hk/cgi/db/thesis.pl?IELM%202008%20LIY.
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Bai, Liwei. "Inventory control and demand distribution characterization." Diss., Available online, Georgia Institute of Technology, 2005, 2005. http://etd.gatech.edu/theses/available/etd-02032005-114800/unrestricted/bai%5Fliwei%5F200505%5Fphd.pdf.
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Thesis (Ph. D.)--Industrial and Systems Engineering, Georgia Institute of Technology, 2005.Paul Griffin, Committee Member ; Kwok-Leung Tsui, Committee Chair ; Christos Alexopoulos, Committee Co-Chair ; Hengqing Ye, Committee Co-Chair ; David Goldsman, Committee Member. Vita. Includes bibliographical references.
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El, Rahi Georges. "Demand-Side Energy Management in the Smart Grid: Games and Prospects." Thesis, Virginia Tech, 2017. http://hdl.handle.net/10919/78266.
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To mitigate the technical challenges faced by the next-generation smart power grid, in this thesis, novel frameworks are developed for optimizing energy management and trading between power companies and grid consumers, who own renewable energy generators and storage units. The proposed frameworks explicitly account for the effect on demand-side energy management of various consumer-centric grid factors such as the stochastic renewable energy forecast, as well as the varying future valuation of stored energy. In addition, a novel approach is proposed to enhance the resilience of consumer-centric energy trading scenarios by analyzing how a power company can encourage its consumers to store energy, in order to supply the grid’s critical loads, in case of an emergency. The developed energy management mechanisms advance novel analytical tools from game theory, to capture the coupled actions and objectives of the grid actors and from the framework of prospect theory (PT), to capture the irrational behavior of consumers when faced with decision uncertainties. The studied PT and game-based solutions, obtained through analytical and algorithmic characterization, provide grid designers with key insights on the main drivers of each actor’s energy management decision. The ensuing results primarily characterize the difference in trading decisions between rational and irrational consumers, and its impact on energy management. The outcomes of this thesis will therefore allow power companies to design consumer-centric energy management programs that support the sustainable and resilient development of the smart grid by continuously matching supply and demand, and providing emergency energy reserves for critical infrastructure.Master of Science
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Cheng, Fuzhi. "An Armington model of the U.S. demand for scallops /." Fogler Library, University of Maine, 2001. http://www.library.umaine.edu/theses/pdf/ChengFX.pdf.
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Pereda, Paula Carvalho. "Estimação das equações de demanda por nutrientes usando o modelo Quadratic Almost Ideal Demand System (QUAIDS)." Universidade de São Paulo, 2008. http://www.teses.usp.br/teses/disponiveis/12/12138/tde-04092008-105503/.
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O objetivo deste trabalho foi analisar a dieta alimentar dos brasileiros. Para tal, estimouse o sistema de equações de demanda do consumidor por nutrientes e as elasticidades, que trazem informações sobre a sensibilidade do consumidor frente a variações nos preços e na renda. A base de dados utilizada foi a Pesquisa de Orçamentos Familiares (POF) de 2002/3, realizada pelo Instituto Brasileiro de Geografia e Estatística (IBGE). Utilizou-se o modelo QUAIDS para estimar as equações de demanda e as elasticidades preço e renda/dispêndio foram calculadas. A hipótese de não-linearidade do dispêndio total não foi rejeitada, ratificando a utilização do Modelo QUAIDS. Para os nutrientes lipídios, colesterol, proteína, vitaminas A e B e fibras alimentares, as elasticidades da demanda se reduziram com a evolução da renda, o que indica o consumo mais elevado destes nutrientes em domicílios mais ricos. Os carboidratos não apresentaram grande oscilação no consumo conforme a variação da renda. Sobre os efeitos dos preços no consumo de nutrientes, os que se mostraram mais sensíveis a mudanças de preços foram: carboidratos; cálcio; ferro; colesterol; e vitamina C, nutrientes estes que compõem os alimentos básicos brasileiros.This work was carried out in order to analyze the Brazilian food diet by estimating the consumer demand system of equations for nutrients and their elasticities, which bring information about the consumer sensibility face to price and income changes. The database used was from Household Expenditure Survey (POF, 2002/03) produced by IBGE (Brazilian Bureau of Statistics). The QUAIDS model was used to estimate the equations for eleven nutrients. The hypothesis of the total income\'s non-linearity was not rejected, reaffirming the use of the QUAIDS\' Model. For lipids, cholesterol, protein, vitamins A and B and fibers, the income elasticities showed a decrease as income raises, this behavior indicates the higher consumption of these nutrients in richer households. The carbohydrates did not present much variation as income changes. When it comes to the price effect on the nutrients consumption, the results suggest that the most sensible nutrients were: carbohydrates; calcium; iron; cholesterol; and vitamin C. These nutrients represent most of the basic diet food in Brazil
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Stec, Jeffery A. "Money demand and the moderate quantity theory of money : an empirical investigation." Connect to resource, 2000. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1261310212.
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LATTAVO, PATRICIA MIGUEZ. "LYGIA CLARK: THEORY AND PRACTICE IN WORKS THAT DEMAND SPECTATOR S PARTICIPATION." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2016. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=28143@1.
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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIROCOORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR
PROGRAMA DE SUPORTE À PÓS-GRADUAÇÃO DE INSTS. DE ENSINO
O neoconcretismo inaugurou, no Brasil, a participação do espectador na arte e teve em Lygia Clark uma das artistas mais radicais entre seus integrantes, sendo ela a responsável em grande parte pelo legado deixado pelo movimento, tanto para a história da arte brasileira como para muitos dos artistas que surgiram no país depois da década de 1960. Neste trabalho, tentaremos mostrar a teoria por trás das obras de Lygia Clark, sua participação no movimento neoconcreto a o início de sua proposta de participação do espectador na obra através da série Bichos.
Neoconcretism started spectator participation in art and had in Lygia Clark one of its most important and radical promoters. Lygia was, in great part, responsible for the legacy of neoconcretism for Brazilian art history and for the artists that came up after 1960. In this paper, we will try to show the theory behind Lygia s works, her participation in the movement and the beginning of her proposal for the spectator s participation with the series Bichos.
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Lipscomb, Clifford Allen. "Resolving the aggregation problem that plagues the hedonic pricing method." Diss., Available online, Georgia Institute of Technology, 2004:, 2003. http://etd.gatech.edu/theses/available/etd-04082004-180317/unrestricted/lipscomb%5fclifford%5fa%5f200312%5fphd.pdf.
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Kinene, Alan. "Modelling the Passenger Demand for Buses in Örebro City." Thesis, Örebro universitet, Handelshögskolan vid Örebro Universitet, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-51426.
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Furuya, Jun. "Econometric analysis of Japanese beef supply and demand /." free to MU campus, to others for purchase, 2000. http://wwwlib.umi.com/cr/mo/fullcit?p9999284.
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Zantoko, Lubaki Kumba. "A study of the Canadian demand for major fresh fruits /." Thesis, McGill University, 1997. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=32736.
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The purpose of this study has been to specify and estimate a complete demand system for fresh fruits in Canada. The Almost Ideal Demand System (AIDS) is used as the functional form to accomplish the purpose of this study. Fresh fruit was assumed to be weakly separable from all other goods at the first stage of the budgeting process and a conditional demand analysis for fresh fruit was carried out at the second stage of the budgeting process, treating total expenditure as an exogenous variable. At the second stage, expenditure on fresh fruit is allocated to five groups: apples, bananas, grapefruit, oranges, and other fresh fruit. The other fresh fruit group includes: apricots, blueberries, cherries, grapes, lemons, pineapples, and strawberries. The second stage allocation was estimated utilising Zellner's iterative SURE procedure with homogeneity and symmetry conditions imposed on the restricted model. Data used in this study were obtained from Statistics Canada and consist of thirty-four observations from 1960--1993.Results of the likelihood ratio test failed to reject the restricted model at 5% significant level. The R-square and Durbin-Watson test statistics indicated that the fit of the model is satisfactory. This study showed that a system of fresh fruit demand is inelastic to total expenditure, own-price, and cross-price effects. All the expenditure elasticity estimates were positive and significant over the study period, and indicate that apples, grapefruit, and oranges were relatively normal goods, while bananas and other fresh fruit category were relative luxury goods. Apples and oranges, grapefruit and other fruit category, oranges and other fruit category, bananas and other fresh fruit category are substitutes; and apples and other fresh fruit category, oranges and the other fruits category are complements.
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Ngai, Christopher. "Estimating the demand structure of housing characteristics: a nonparametric approach." Oberlin College Honors Theses / OhioLINK, 1995. http://rave.ohiolink.edu/etdc/view?acc_num=oberlin1342186655.
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Baichen, Jiang. "Rural household food demand : a microeconomic analysis of Jilia Province, China." Thesis, Queen's University Belfast, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.391119.
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Kafumba, Charles Raphael Utonga. "Energy demand and economic development in southern Africa : opportunities and constraints." Thesis, University of Liverpool, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.334052.
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The purpose of this study is to profile and conceptualize the contemporary energy predicaments confounding Southern Africa. We examine the dynamics of the structural interplay between the main attributes of the energy demand function and growth within the analytical framework of the political economy of development as it has evolved over time in Southern Africa. The study thus provides new perspectives on key energy policy issues thereby facilitate a deeper understanding of the real nature and root cause of the now epidemic "energy crises" affecting both 'modern' and 'traditional' fuels. It also seeks to advance the debate on how the African energy policy process can effectively be reoriented so as to foster a sustainable development agenda where issues of the environment, equity and provision of basic needs for human survival are placed at the centre stage of development. We argue that the on-going "energy-crises" in Southern Africa constitutes a complex development management dilemma ingrained in its structural state of underdevelopment whose genesis lies in the manner in which it was colonized the process by which it was simultaneously incorporated and marginalised onto the fringes of the global capitalist economy and the regional economic subsystem of migrant labour centered on RSA. Manifestations of these conditions are mirrored in the now rampant 'African Crises' of accumulation whose components have variably included: sharp rise in imported fuel costs; poor TOT; foreign exchange liquidity squeeze; mounting foreign debt; population explosion; unbridled urbanization; land-use conflicts; and deforestation. The immensi ty of the energy challenge posed by these structural condi tions has been heightened and made more apparent by the effects of (i) oil price criSis; (ii) onslaught of RSA's "Total strategy" for the destabilisation of the SADCC region and (iii) reliance on inappropriate imitative development policies promulgated on the now discredited modernization paradigm. We contend that the modernization paradigm, upon which conventional energy analysis and policy hypotheses are currently propagated, cannot be relied upon in matters relating to Africa's energy analysis no less than in general economic development. The intellectual poverty of this dominant paradigm lies in its failure to adequately incorporate the African energy question by way of offering definitive hypotheses to expedite the articulation and in depth understanding of the nature of the energy problem let alone assist in its better management. In spite of evidence which supports a robust positive correlation between energy use and growth, there still lacks an unambiguous statistical base with which to support claims of a 'rock-steady' unidirectional causality linkage from GOP to energy. We demonstrate that GOP is not the sole determinant of energy demand and that the energy-GOP interplay is a two-way process. In addition to measurement and conceptual problems affecting conventional planning tools,its derived hypotheses are founded on modern fuels which account for only 10-30% of national balances of the majority of SADCC states. The danger with this partial analysis is that it presents a highly fragmented and misleading picture of the African energy system. Indeed, when traditional fuels are brought into the reckoning the majority of the available conventional hypotheses crumble. Moreover, such a partial analysis exposes energy policies to the risk of missing out important synergistic effects such as fuel-mix, inter-fuel substitution and other demand attributes thereby rendering any polices dangerously unsound and unsafe. Thus, reliance on these hypotheses has contributed to the misplacement of the policy process by nurturing unwarranted misconceptions about the nature of the energy problem facing Africa and thus the definition of key issues requiring attention. We conclude that the southern African region has undergone a particular development process which has bestowed its energy system with unique sets of demand and supply attributes. These differ from those of the West and thus profoundly alter the aim of energy analysis and policy objectives. Because energy is not an energy management issue, but a development management problem, lasting solutions must be sought from within the development purview. We underscore the theme that because energy-GDP interplay is a two-way process coupled with the fact that development and underdevelopment are two sides of the same coin , the energy issue cannot be quarantined from the wider recalcitrant of Africa's 'crises of development'. Thus, it is not possible to comprehend let alone seek solutions to such deeprooted and intertwined development dilemmas without a systems analysis of the political economy of development as it has evolved over time. We contend that it is this structural focus that has been a major missing component in past energy policy debates which the present thesis attempts to plug. In addition to informing planners and decision makers of new developments af~ecti~g the~r energy ~y~tems, the planning process must inter ~ aam . at determ~n~ng the extent of socio-economic transformat~ons necessary to improve the security of energy supplies, .living standards of the population at large, bridge technologlcal gaps and minimize environmental damage of energy development.
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Brenton, P. A. "An application of consumer demand theory to the modelling of bilateral trade flows." Thesis, University of East Anglia, 1987. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.376078.
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Ansic, David. "Theory and tests of two asset models of the individual's demand for money." Thesis, University of York, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.306412.
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Singleton, Patrick Allen. "A Theory of Travel Decision-Making with Applications for Modeling Active Travel Demand." PDXScholar, 2013. https://pdxscholar.library.pdx.edu/open_access_etds/1494.
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The continuing evolution of urban travel patterns and changing policy goals and priorities requires that transportation researchers and practitioners improve their abilities to plan and forecast the demand for travel. Walking and bicycling - the primary forms of active travel - are generating increasing interest for their potential to reduce automobile use, save governmental and consumer costs, and improve personal and social health outcomes. Yet, current transportation planning tools, namely regional travel demand forecasting models, poorly represent these active travel modes, if at all.
More broadly, travel models do an incomplete job of representing the decision-making processes involved in travel choices, especially those factors influencing walking and bicycling. In addition to limitations of data and statistical analysis methods, the research upon which modeling tools are based has yet to settle on a comprehensive theory of travel behavior that accounts for complex relationships around a variety of personal, social, and environmental factors. While modeling tools have explained travel primarily through economic theories, contributions from the geography and psychology fields prove promising. A few scholars have attempted to link these travel behavior explanations together, some with a focus on walking and bicycling, but these theories have yet to make a significant impact on travel modeling practice.
This thesis presents a unifying interdisciplinary framework for a theory of travel decision-making with applications for travel demand modeling and forecasting and a focus on walking and bicycling. The framework offers a guide for future research examining the complex relationships of activities, built environment factors, demographic and socioeconomic characteristics, attitudes and perceptions, and habit and exploration on individual short-term travel decisions (with considerations of the influence of medium- and long-term travel-related decisions). A key component of the theory is a hierarchy of travel needs hypothesized to be considered by travelers in the course of their decision-making processes. Although developed to account for the factors that particularly influence decisions surrounding walking and bicycling, the framework is postulated to apply to all travel modes and decisions, including frequency, destination, mode, time-of-day, and route.
The first section of the thesis reviews theories from the fields of economics, geography, psychology, and travel behavior that have a large influence on the development of the theory of travel decision-making. In the next and largest chapter, the components and relationships in this theory, including the hierarchy of travel needs, are defined and presented with supporting empirical evidence from travel behavior research.
This thesis's final section views the theory of travel decision-making through the lens of applicability to travel demand modeling and forecasting. The state of current travel forecasting tools, travel behavior research, data, and analysis methods with respect to each aspect of the theory is reviewed. Research and data needs are identified. In closing, some opportunities for operationalizing the theory in travel demand models and using these transportation planning tools for analyzing walking, cycling, and other policies are hypothesized and discussed. This thesis, and the theory and applications discussed within, contribute to the academic study of travel behavior, the practical modeling of travel demand, and walking and bicycling research and planning.
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Ortiz, Olga L. "Stochastic inventory control with partial demand observability." Diss., Atlanta, Ga. : Georgia Institute of Technology, 2008. http://hdl.handle.net/1853/22551.
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Thesis (Ph. D.)--Industrial and Systems Engineering, Georgia Institute of Technology, 2008.Committee Co-Chair: Alan L Erera; Committee Co-Chair: Chelsea C, White III; Committee Member: Julie Swann; Committee Member: Paul Griffin; Committee Member: Soumen Ghosh.
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McNay, Aaron David. "An estimation of the demand for gasoline in Montana, and projections of future gasoline consumption." Thesis, Montana State University, 2008. http://etd.lib.montana.edu/etd/2008/mcnay/McNayA0808.pdf.
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How gasoline consumption responds to changes in its own price is of interest to many different groups. States fund a large portion of their road construction and maintenance by a direct tax on gasoline. The federal government also receives revenue by directly taxing gasoline. Automobile manufacturers are interested in how consumers\' demand for fuel efficiency changes with changes in the price of gasoline. For these reasons, and more, it is important to understand how gasoline consumption will respond to changes in price. Other researchers have already attempted to measure gasoline demand at the national level. However, very little work has been done at a state level. This thesis attempts to apply a model similar to the previously developed national models at a state level. The state examined here is Montana. This state is of particular interest because it differs from the national average in several key characteristics, including more vehicles per capita, less fuel efficient vehicles, and few alternatives to driving such as public transportation. The model employed simultaneously estimates the demands for vehicle miles traveled and fuel efficiency. By estimating the demands for both of these variables, it is possible to indirectly determine the demand for gasoline. When estimated, it appears that Montana\'s consumption of gasoline is less responsive to changes in gasoline prices, and more responsive to income changes, than the nation as a whole. The estimated model is used to project future gasoline consumption. The projections were developed using potential future levels of income, population, and gasoline prices. These projections indicate that it would require gasoline prices rising considerably before per capita consumption would decline.
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Lorenzon, Emmanuel. "Sponsored Search and Sequential Auctions : Three Essays in Auction Theory." Thesis, Bordeaux, 2016. http://www.theses.fr/2016BORD0357/document.
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Cette thèse regroupe trois essais en théorie des enchères. Le chapitre 1 introduit de ladélégation dans le mécanisme d’enchère GSP. Dans un jeu impliquant des transferts monétaires et unepolitique de rémunération mise en place par une agence, un équilibre collusif efficace est atteint.Nousproposons une caractérisation du profil d’enchères collusif implémentable dans un jeu de positions `a troisjoueurs et deux positions. Le chapitre 2 considère des ventes séquentielles d’un objet `a deux acheteurs: l’unconnaît son évaluation privée tandis que l’autre non. Les acheteurs ont une demande multi-unitaire et lesévaluations privées entre unit´es sont parfaitement corrélées. Un équilibre asymétrique existe dans lequelle joueur non-informé adopte une stratégie agressive tandis que le joueur informé joue de manière prudente.Le comportement du joueur non-informé est justifié par l’opportunité d’acquérir de l’informationgratuitement. Cette dynamique induit une décroissance des prix entre les ventes. Le chapitre 3, introduitun jeu de décision séquentielle dans la première enchère. Un équilibre séparateur existe dans lequel lejoueur informé est agressif lorsqu’il est le premier `a jouer impliquant une stratégie de non-participationde la part de son concurrent non-informé. A l’inverse, ce dernier adopte une attitude plus prudentelorsqu’il est le premier `a joueur. Un équilibre mélangeant dans lequel le joueur informé cache son informationprivée ne peut exister que si le joueur non-informé adopte une stratégie de non-participationThis thesis is a collection of three essays in theoretical auction analysis. Chapter 1 considersbid delegation in the GSP auction mechanism. In a game involving side-contracts and a compensationpolicy set by an agency, the first-best collusive outcome is achieved. We offer a characterization of the implementablebid profiles for the two-position game with three players. Chapter 2 considers the sequentialsale of an object to two buyers: one knows his private information and the other buyer does not. Buyershave a multi-unit demand and private valuations for each unit are perfectly correlated. An asymmetricequilibrium exists when the uninformed player adopts an aggressive bidding strategy. Conversely, hisinformed opponent behaves more conservatively by using bid shading. The bidding behaviour of theuninformed bidder is driven by the opportunity to learn his private valuation for free. This dynamic is atthe root of the decline in the equilibrium price across both sales. In chapter 3, information is observableduring the first-stage auction in a sequential-move game in which the first-mover bidder is observed byhis opponent. A separating equilibrium exists in which the informed bidder bids aggressively when he isthe first-mover which entails a non-participation strategy from his uninformed competitor. Conversely,the latter adopts a conservative behaviour when he is the first-mover. A pooling equilibrium in which theinformed bidder blurs his valuation can only exist if his uninformed opponent adopts a non-participatingstrategy
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Gemech, Firdawek Lemma. "Demand for money and the conduct of monetary policy in developing countries." Thesis, University of Glasgow, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.311460.
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Galindo-Paliza, Luis Miguel Alejandro. "The demand for money, interest rates and the exchange rate in Mexico." Thesis, University of Newcastle Upon Tyne, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.241548.
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Rodrik-Bali, G. "Money demand and money multiplier components in the United Kingdom : 1871-1969." Thesis, City University London, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.374281.
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Franchi, de' Cavalieri Gabriele. "A study on the effect of functional distribution of income on aggregate demand." Thesis, University of Glasgow, 2016. http://theses.gla.ac.uk/7710/.
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In this thesis, we study the causal relationship between functional distribution of income and economic growth. In particular, we focus on some of the aspects that might alter the effect of the profit share on growth. After a brief introduction and literature review, the empirical contributions will be presented in Chapters 3,4 and 5. Chapter 3 analyses the effect of a contemporaneous decrease in the wage share among countries that are major trade partners. Falling wage share and wage moderation are a global phenomenon which are hardly opposed by governments. This is because lower wages are associated with lower export prices and, therefore, have a positive effect on net-exports. There is, however, a fallacy of composition problem: not all countries can improve their balance of payments contemporaneously. Studying the country members of the North America Free Trade Agreement, we find that the effect on export of a contemporaneous decrease in the wage share in Mexico, Canada and the United States, is negative in all countries. In other words, the competitive advantage that each country gains because of a reduction in its wage share (to which is associated a decrease in export prices), is offset by a contemporaneous increase in competitiveness in the other two countries. Moreover, we find that NAFTA is overall wage-led: the profit share has a negative effect on aggregate demand. Chapter 4 tests whether it is possible that the effect of the profit share on growth is different in the long run and in the short run. Following Blecker (2014) our hypothesis is that in the short run the growth regime is less wage-led than it is in the long run. The results of our empirical investigation support this hypothesis, at least for the United States over the period 1950-2014. The effect of wages on consumption increases more than proportionally compared to the effect of profits on consumption from the short to the long run. Moreover, consumer debt seem to have only a short-run effect on consumption indicating that in the long run, when debt has to be repaid, consumption depends more on the level of income and on how it is distributed. Regarding investment, the effect of capacity utilization is always larger than the effect of the profit share and that the difference between the two effects is higher in the long run than in the short run. This confirms the hypothesis that in the long run, unless there is an increase in demand, it is likely that firms are not going to increase investments even in the presence of high profits. In addition, the rentier share of profits – that comprises dividends and interest payments – has a long-run negative effect on investment. In the long run rentiers divert firms’ profits from investment and, therefore, it weakens the effect of profits on investment. Finally, Chapter 5 studies the possibility of structural breaks in the relationship between functional distribution of income and growth. We argue that, from the 1980s, financialization and the European exchange rate agreements weakened the positive effect of the profit share on growth in Italy. The growth regime is therefore becoming less profit-led and more wage-led. Our results confirm this hypothesis and also shed light on the concept of cooperative and conflictual regimes as defined by Bhaduri and Marglin (1990).
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Keller, Joachim. "Essays on innovation and investment decisions under imperfect competition." Doctoral thesis, Universite Libre de Bruxelles, 2013. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209548.
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Innovation incentives are imperfectly provided in market settings: When deciding on their innovation activity, firms tend to focus on the maximization of their private benefits, poorly internalizing social benefits. This thesis analyzes how policy intervention could be designed in order to align private and social incentives. In the three papers of this thesis, I will consider three environments where firms' choices in a laissez-faire situation may be socially inefficient. The inefficiencies arise because of learning externalities, free riding when the innovation decision is made by a group of participants, or because firms are not willing to invest in a new activity that has a higher social than private value.
In the first thesis paper, I deal with the strategies of firms in innovative consumer product markets characterized by demand uncertainty. I analyze the timing and location decision of firms in that context.
In the second thesis paper, I consider the investment incentives of financial market infrastructures (FMIs). FMIs comprise the set of institutions that allow financial market participants to engage with each other. I assess the innovation incentives for different forms of ownership (user-owned versus third-party owned) and identify infrastructure service provision equilibria.
In the third thesis paper, I address the question of how a government should allocate a subsidy budget over time in order to maximize the innovation activity in an industry.
Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
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Allen, Christopher Bellett. "Supply-side economics : structural econometric modelling of producer pricing and factor demand decisions." Thesis, London Business School (University of London), 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.339000.
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Ho, To Ming. "Export supply and import demand functions of Hong Kong : a dual production theory approach." Thesis, University of Southampton, 1993. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.239404.
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Klotz, Jared Lee. "Foraging for Demand: Applying Optimal Foraging Theory to Decisions in a Simulated Business Context." OpenSIUC, 2012. https://opensiuc.lib.siu.edu/theses/1053.
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Charnov's (1976) marginal value theorem has had success in predicting that animals will optimize net rate of gain when foraging in a patchy environment. The present study attempts to apply the marginal value theorem (MVT) to human behavior in a business setting in 3 Experiments. Businesses also attempt to optimize net rate of gain when choosing to discontinue one product in lieu of another using a product life cycle (PLC). Experiments 1 & 2 attempted to assess human behavior in a business context by varying time necessary to retool and monetary cost of retooling respectively. Experiment 3 attempted to add ecological validity by introducing variability to the PLC. The results of Experiments 1, 2, & 3 indicate that the MVT does not accurately predict human behavior in a business context, though methodological issues may have affected these results. Future research must be conducted in this area.
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Leite, Fabricio Pitombo 1980. "Da demanda por moeda a preferencia pela liquidez : uma interpretação pos-keynesiana." [s.n.], 2008. http://repositorio.unicamp.br/jspui/handle/REPOSIP/285797.
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Orientador: David Dequech FilhoDissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia
Made available in DSpace on 2018-08-11T20:11:26Z (GMT). No. of bitstreams: 1 Leite_FabricioPitombo_M.pdf: 1074190 bytes, checksum: cebbb5895912efdcc4bb8a0b6a39d64f (MD5) Previous issue date: 2008
Resumo: A interpretação sugerida no presente estudo evidencia o caráter mais amplo assumido pela teoria da preferência pela liquidez, qual seja, de uma teoria da escolha e precificação de ativos em geral. Para tal, parte-se da explanação acerca dos motivos para demandar moeda, explicitando-se também as conexões entre esses motivos e a incerteza que permeia o ambiente econômico. Na busca pela especificidade da teoria da preferência pela liquidez, isto é, no que esta se diferencia de uma teoria alternativa para a demanda por moeda, discute-se a determinação da taxa de juros em decorrência destes motivos, com destaque para a expressão da moeda como um ativo e para o fato de rendimentos pecuniários serem auferidos por quem se dispõe a abdicar da posse de moeda e reter títulos, tudo isso com a gama de ativos limitada aos dois supracitados. Finalmente, abandonando-se o mundo dicotômico construído a partir da moeda e de um outro ativo e a partir da extensão de um mesmo princípio definidor básico, chega-se à escolha e precificação de ativos em geral, com o que a teoria da preferência pela liquidez adquire sua representação máxima.
Abstract: The interpretation suggested in the present study emphasizes the broad character of liquidity preference theory, namely, as a theory of asset choice and pricing in general. To this end, the thesis starts with the explanation of the motives to demand money, as well as the connections between these motives and the uncertainty that permeates the economic environment. Looking for the peculiarity of liquidity preference theory, as distinct from an alternative theory of demand for money, the thesis discusses the determination of the interest rate as a result of these motives, highlighting the expression of money as an asset and the fact that monetary yields are earned by whoever is willing to part with money and hold securities, all this with the basket of assets restricted to these two. Lastly, the thesis abandons this dichotomic world of money and only one other asset, and, on the basis of the same defining fundamental principle, arrives at asset choice and pricing in general, with the result that liquidity preference theory assumes its most general form.
Mestrado
Mestre em Ciências Econômicas
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Tsheole, Thapelo. "The demand for broad money (M2) in Botswana." Thesis, Rhodes University, 2007. http://hdl.handle.net/10962/d1002700.
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There has been extensive theoretical and empirical research on the subject of demand for money function. This particularly stems from the important role demand for money plays in macroeconomic analysis, especially in the design and implementation of monetary policy. The increase in studies, especially in developing countries, can also be attributed to a number of factors like: the impact of moving towards flexible exchange rate regimes, globalisation of financial markets, ongoing financial liberalisation, innovations in domestic financial products, the advancement in econometrics techniques and other country-specific events. This study estimates and examines the nature and stability of the demand for broad money (M2) in Botswana. This is particularly important in that the usefulness of a money demand function in the conduct of monetary policy depends crucially on its stability. The stability of the money demand function is crucial in that a stable money demand function would mean that the quantity of money is predictably related to a set of key economic variables linking money and the real economic sector. Therefore, this will help central banks to select appropriate monetary policy actions. Based on the findings, the study also proposes policy interventions. The vast majority of the literature on demand for money has underscored the fact that variable selection and representation, and the framework chosen are the two major issues relevant to modelling and estimation of the demand for money function. In modelling and estimating the demand for money function in Botswana, this study surveys a stream of theoretical and empirical literature on money demand in developed and developing countries, including countries that have similar financial sector similar to Botswana. Due consideration is also given to the macroeconomic and financial sector development in Botswana to help in the identification of the variables that are included in the demand for money equation. Most importantly, this helped in getting meaningful results that are free from theoretical and estimation problems. In particular, this study applied the multivariate cointegration approach as proposed by Johansen (1988) and Johansen and Juselius (1990) to estimate the relationship between broad money (M2), real income, interest rate, South African treasury bill rate, inflation rate and US dollar/pula bilateral exchange rate. The study obtains one unique long run relationship between money and the scale and opportunity cost variables. The coefficients of the long run relationship are then modelled along the general to specific approach as proposed by Campos, Ericsson and Hendry (2005). In this type of approach the general model is reduced by sequential elimination of statistically insignificant variables and checking the validity of the reductions at every stage to ensure congruence of the finally selected parsimonious model. In accordance with the economic quantity theory of money, the long run income elasticity obtained is 0.8021, which is close to the value one (unitary) suggested by economic theory. The coefficients of real income, exchange and inflation rate have the expected positive signs and were significant in the long run. Therefore, the long run demand for money (M2) in Botswana was found to be positively affected by real income, inflation rate and exchange rate. The lack of statistical significant of the own rate of money (88 day commercial bank deposit rate) and the foreign opportunity cost variable (South African Treasury bill rate) is attributed to multi-collinearity problems between these two interest rates. This could be caused by the fact that short term rates in Botswana are very responsive to movements in the money markets rates in South Africa. The short run dynamics of the demand for money function shows the slow speed of adjustment to equilibrium of about 2.9 percent in the first quarter and this is reflective of the lack of sufficient availability of banking services and the low returns on financial assets which could allow economic agents to re-establish equilibrium levels of money holdings faster. The final parsimonious model obtained clearly reflects a well specified stable demand for money function. Therefore, based on the findings we can be precise in stating that targeting a monetary aggregate can be a viable policy for the monetary authorities in Botswana.
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Al-Hajeri, Sharifa. "The econometrics of demand systems with special reference to commodity group data for Bahrain." Thesis, University of Salford, 2002. http://usir.salford.ac.uk/26515/.
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The mam objective of this study is to estimate the demand relationships among commodity groups using Bahrain quarterly time series data for the period 1979- 98. Three main demand systems are presented and estimated, namely the Linear Expenditure Demand System (LES) which was introduced by Kelin-Rubin (1946-47) and developed by Stone (1953-54), the Rotterdam System (RM) which was introduced by Theil (1965) and Barten (1966), and the Almost Ideal Demand System (AIDS) introduced by Deaton and Muellbauer (1980). Also, the variables reflecting the effects of habit on purchases are incorporated into three main demand systems. Model selection procedures are applied to select the best model to reflect the Bahrain data. Based on procedures, the static Linear Almost Ideal Demand System (LAVAIDS) is selected among other static demand systems, namely, the linear expenditure demand system and the Rotterdam system models. The selection is based on average information criterion. However the dynamic LAYAIDS is selected over its static counterpart and recommended for the future application for Bahrain data. The selection is based on the likelihood ratio test. Further, the dynamic LAVAIDS satisfies all the restrictions implied by demand theory. All the compensated own price elasticities are negative as expected and the expenditure elasticity classifies the food & beverage, clothing & footwear,housing, and transportation as necessity products, while the other commodity group is classified as luxury products. The second main objective of this study is to test for unit roots and order of comtegration in Bahrain commodity group data. The results indicate that most of the time senes that will be used in estimating the linear AIDS model, such as total real expenditures on various commodity groups, prices, budget shares are shown to be integrated of order one. The application of Johansen and Juselius(1990) Full Maximum Likelihood approach in this study confirm that equilibrium relationships exist between the variables that make-up the LAVAIDS model. Second, the homogeneity of degree zero of price, postulated by consumer theory, is rejected by the data. The argument that time series issues are responsible for this rejection is not always true. The study also focuses on a) Engel Curve and b) income distribution and poverty in Bahrain. The advantage of a cross- section study of the Engel Curve is that consumer demand theory is based on micro-demand data (individual's data). Income elasticities that are estimated from cross-section data are useful in predicting changes in aggregate time series data if the effects of price changes have to be eliminated from time series analyses. Therefore, seven Engel Curves for eight commodity groups are estimated using data from the Bahrain household survey for the period 1994-1995. Studying income distribution and poverty in Bahrain is important. Inequality of income and poverty influences the pattern of household expenditure. It also influences the welfare of households in the country. Therefore, studying income distribution and poverty could guide the policy makers in Bahrain to improve the living standard of households. The analyses of income distribution and poverty in Bahrain are based on the household expenditure and income survey data for the period (1984-85 to 1994-95), involving Gini coefficient and other measures.
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Mattingly, Jesse W. "COFFEE IN CHINA: MARKET TREND AND CONSUMER DEMAND." UKnowledge, 2016. http://uknowledge.uky.edu/agecon_etds/37.
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Although it remains a tea consuming nation, both production and consumption of coffee in China has been increasing at double-digit rates and is not expected to slow down (International Coffee Organization (ICO), 2015). With investments and upward trends in production and rapid increases in consumption of coffee in China it is important for producers and retailers of the bean1 in China to understand the new Chinese coffee consumer. Using survey data from Wuhan, China we help understand the Chinese coffee consumer by explaining their consumption using standard OLS regression. Results show that whether or not consumers make/brew their own coffee, how long consumers have been consuming coffee regularly, the size of the coffee cup most often purchased and individuals’ prediction of their coffee consumption in the following year are all important in explaining Chinese coffee consumption. We suggest for long-run success, that Chinese coffee producers and retailers in China focus on the quality of their coffee bean.
1 ‘bean’ refers to coffee