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Journal articles on the topic 'Supply and demand curves'

Author: Grafiati

Published: 9 March 2023

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1

Graves, Philip E., and Robert L. Sexton. "Demand and Supply Curves: Rotations versus Shifts." Atlantic Economic Journal 34, no. 3 (August 12, 2006): 361–64. http://dx.doi.org/10.1007/s11293-006-9021-2.

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2

Fleetwood, S. "Do labour supply and demand curves exist?" Cambridge Journal of Economics 38, no. 5 (March 14, 2014): 1087–113. http://dx.doi.org/10.1093/cje/beu003.

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3

Naqellari, Alqi. "Positive Slope Model of Aggregate Demand." Academic Journal of Interdisciplinary Studies 7, no. 3 (November 1, 2018): 63–85. http://dx.doi.org/10.2478/ajis-2018-0059.

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Abstract This paper analyzes Internal Aggregate Demand. This aggregate, along with other production indicators, is the main indicator of the country’s economic performance rate. Objective analysis is important for their perspective, as well as for a set of other related indicators, such as inflation rate, unemployment rate, etc. In economic theory, the Aggregate Demand Curve (AD) deals with negative slope. At the point where AD interrupts the AS (aggregate supply curve) there is macroeconomic equilibrium. Creating this equilibrium, shifting curves, creates a number of other figures that show how the level of output, prices and employment will be, and overall the level of economy in the future. In this study, with the data of the Albanian economy, was built, for a period of 17 years, the Internal Demand Curve. Three effects are analyzed: the real balance sheet effect, the interest rates and the external trade effect. The internal demand curve has resulted in a Positive Slope. The equilibrium is not created at the intersection point of the curves. These curves stand facing each other. The equilibrium is set by the different aggregate price level. The Gross Domestic Product Curve (GDP) is the equilibrium curve created by the interaction of Aggregate Demand and Aggregate Supply. This position is real, and creates opportunities for objective analysis of the economy. This paper uses econometric, statistical, comparative and synthesis methods.

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4

Dierker, Martin, Jung-Wook Kim, Jason Lee, and Randall Morck. "Investors’ Interacting Demand and Supply Curves for Common Stocks*." Review of Finance 20, no. 4 (August 28, 2015): 1517–47. http://dx.doi.org/10.1093/rof/rfv042.

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5

Miccoli, Saverio, Fabrizio Finucci, and Rocco Murro. "Integrating stated preference methods for property valuations in housing markets." International Journal of Housing Markets and Analysis 12, no. 3 (June 3, 2019): 474–86. http://dx.doi.org/10.1108/ijhma-02-2018-0019.

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Purpose The study aims to propose an appraisal procedure based on the preferences stated by a sample of potential consumers and producers which makes it possible to obtain the hypothetical demand and supply curves and to estimate the most likely market value and transaction quantities for housing markets with unrevealed prices. Design/methodology/approach The procedure is divided into two steps: the first is aimed at selecting the alternatives that are most likely to meet the market’s preference by applying discrete choice (DC) analysis; the second makes it possible to estimate the potential demand and supply curves for the preferable alternatives singled out through DC analysis by using contingent valuation methods. Findings The results obtained considering only the hypothetical demand or the hypothetical supply differ by an average of 10 per cent from the actual sale price. Conversely, the values detected as the intersection of the hypothetical demand curve and the hypothetical supply curve, fall into variation margins that can be considered fully acceptable in real estate appraisal Originality/value As opposed to the applications performed in international real estate operations where reference is made solely to the potential demand estimate, the described procedure estimates the transaction value as the intersection between the hypothetical demand and supply curves, for the purposes of keeping account of the conditions that generally occur in the real market. Furthermore, it is possible to detect the incidence of the characteristics in market price formation, and to identify the market share of possible alternative assets and estimate the optimal quantity to be produced.

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6

Sozinho, Thiago Manoel, David Alexandre Buratto, Anadalvo Juazeiro Dos Santos, João Carlos Garzel Leodoro da Silva, and José Roberto Frega. "EVOLUTION OF THE PRODUCTION AND PRICE OF FOREST BIOMASS FOR ENERGY." FLORESTA 49, no. 1 (December 17, 2018): 011. http://dx.doi.org/10.5380/rf.v49i1.51617.

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This study aimed to analyze the evolution of the production and price of biomass from native and planted forests of the state of Paraná (Brazil), between 1998 and 2015, based on the behavior of the prices of the products, according to variations of their supply or demand. The annual rates for growth of the price and quantity produced were calculated and related to the displacements of the supply and demand curves of the products. The results indicated a decrease in the quantity and an increase in the biomass price for native forests, which caused a shift in the supply curve to the left. For the biomass of planted forests, the demand curve shifted to the right due to the demand increase of this product for energy production. The behavior of both curves indicated a substitution of the biomass from native forests to biomass from planted forests due to factors related to the increase of environmental protection regarding the native forests located in the state of Paraná

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7

Maljković, Biljana, and Dražen Cvitanić. "Evaluation of design consistency on horizontal curves for two-lane state roads in terms of vehicle path radius and speed." Baltic Journal of Road and Bridge Engineering 11, no. 2 (June 27, 2016): 127–35. http://dx.doi.org/10.3846/bjrbe.2016.15.

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Experimental investigation was conducted on a 24 km long segment of the two-lane state road to collect the driver behavior data. The research involved 20 drivers driving their own cars equipped with the GPS device. Considering the impact of path radius and speed on the side friction demand, the design consistency on horizontal curves was evaluated by determining the margins of safety. The analysis showed that the vehicle path radii were mainly smaller than curve radius, on average for 12%. Regression analysis indicated that the percentage difference between the curve radius and vehicle path radius is not affected by the speed, speed differential and geometric characteristics of the curve and surrounding elements. Two different margins of safety were analyzed. One is the difference between maximum permissible side friction (based on design speed) and side friction demand, while another is the difference between side friction supply (based on operating speed) and side friction demand. Generally, demands exceeded supply side friction factors on curves with radii smaller than 150 m, whereas “poor” conditions (in terms of Lamm’s consistency levels) were noted for curves under approximately 220 m. Both values are very close to the critical radius below which higher accident rates were observed according to several accident studies. Based on the results of the research, it is proposed to use a 12% smaller curve radius for the evaluation of margin of safety and that curves with radii smaller than 200 m should be avoided on two-lane state roads outside the built-up area.

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8

Creedy, John. "The Rise and Fall of Walras's Demand and Supply Curves." Manchester School 67, no. 2 (March 1999): 192–202. http://dx.doi.org/10.1111/1467-9957.00142.

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9

White, M. V. "Why are there no Supply and Demand Curves in Jevons?" History of Political Economy 21, no. 3 (September 1, 1989): 425–56. http://dx.doi.org/10.1215/00182702-21-3-425.

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10

Tanaka, Hiroatsu. "Equilibrium Yield Curves with Imperfect Information." Finance and Economics Discussion Series 2022, no. 086 (December 2022): 1–50. http://dx.doi.org/10.17016/feds.2022.086.

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I study the dynamics of default-free bond yields and term premia using a novel equilibrium term structure model with a New-Keynesian core and imperfect information about productivity. The model generates term premia that are on average positive with sizable countercyclical variation that arises endogenously. Importantly, demand shocks, in addition to supply shocks, play a key role in the dynamics of term premia. This is in sharp contrast to existing DSGE term structure models with perfect information, which tend to rely on large supply shocks to generate timevariation in yields and term premia. With imperfect information, a shock to productivity is a supply shock, while a shock to signals about productivity that do not lead to actual changes in productivity acts as a demand shock. Nevertheless, an increase in economic activity generates more information about productivity, regardless of which type of shock it arises from. Moreover, a decrease in economic uncertainty leads to a decline in term premia as longer-term bonds are risky on average. This feature helps reconcile the empirical evidence that term premia have been on average positive and countercyclical, with numerous studies pointing to demand shocks as being an important driver of business cycles over the last few decades.

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11

Kulakov, Sergei. "X-Model: Further Development and Possible Modifications." Forecasting 2, no. 1 (February 3, 2020): 20–35. http://dx.doi.org/10.3390/forecast2010002.

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The main goal of the present paper is to improve the X-model used for day-ahead electricity price and volume forecasting. The key feature of the X-model is that it makes a day-ahead forecast for the entire wholesale supply and demand curves. The intersection of the predicted curves yields the forecast for equilibrium day-ahead prices and volumes. We take advantage of a technique for auction curves’ transformation to improve the original X-model. Instead of using actual wholesale supply and demand curves, we rely on transformed versions of these curves with perfectly inelastic demand. As a result, the computational requirements of our X-model are reduced and its forecasting power increases. Moreover, our X-model is more robust towards outliers present in the initial auction curves’ data.

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12

Joachim, Gloria. "Supply and Demand: A Framework for Explaining Variability in Dietary Intake and its Impact on Data." Nutrition and Health 11, no. 4 (April 1997): 289–99. http://dx.doi.org/10.1177/026010609701100407.

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Nutrition has an important relationship with health and illness. One difficulty in measuring intake is related to variability. The purpose of this paper is to examine 1) the impact of supply and demand on variability in data collected for dietary studies and 2) the relationship between data and estimates of usual intake. The forces of supply and demand over time generate a consumption curve for each food. Two types of consumption curves are identified. One curve is horizontal and represents staples that are steadily consumed. The other curve exhibits peaks and dips and is unique for each food whose consumption varies with time. The measurement of usual intake is discussed in. light of these two types of curves. Usual intake of foods whose consumption curve is horizontal could be read at any time since consumption does not vary with time. For all other foods, measuring usual consumption presents problems since the data vary with time. This examination indicates that foods whose consumption varies with time have unique properties that must be considered when attempting to calculate consumption. Suggestions are given to enhance measurement of consumption of these foods. Although excellent methodology currently exists for the calculation of intake, attention to the force of supply and demand with only serve to strengthen existing methods.

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13

Finocchi, Emiliano. "Standardizing a unique renewable energy supply chain: the SURESC Model." F1000Research 9 (February 16, 2021): 1391. http://dx.doi.org/10.12688/f1000research.27345.2.

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This study intends to dig into the renewable energy industry and drawing from research on learning curves and energy polices, proposes a way to speed-up the energy shift from our fossil-fuel dependency to a green economy. Even though standard economic frameworks suggest that markets and not policy makers should decide winners and losers, we urge to accelerate renewable energy competitiveness, proposing that by limiting the number of renewable technologies where resources are allocated to at government level, we reduce the time within which renewables will achieve technological price parity with fossil fuels. In turn, by analyzing the energy demand and supply curves, the study suggests that this action will also mediate the relation between quantity and price, shifting only the supply curve, leaving the demand curve unaffected. It continues by proposing the standardization of a unique renewable energy supply chain model, later defined as the SURESC model. For such, a deep analysis on existing green technologies will be performed proposing the implementation of a hydrogen through ammonia economy via ammonia for power as key factor for success. This is a preliminary study, first of its kind, intended to provide a holistic approach to a known problem.

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14

Finocchi, Emiliano. "Standardizing a unique renewable energy supply chain: the SURESC Model." F1000Research 9 (November 15, 2021): 1391. http://dx.doi.org/10.12688/f1000research.27345.3.

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This theory-building research intends to dig into the renewable energy industry and drawing from research on learning curves and energy polices, proposes a way to speed-up the energy shift from our fossil-fuel dependency to a green economy. Even though standard economic frameworks suggest that markets and not policy makers should decide winners and losers, we urge to accelerate renewable energy competitiveness, proposing that by limiting the number of maturing renewable technologies where resources are allocated to at government level, we reduce the time within which renewables will achieve technological price parity with fossil fuels. In turn, by analyzing the energy demand and supply curves, the study suggests that this action will also mediate the relation between quantity and price, shifting only the supply curve, leaving the demand curve unaffected. It continues by proposing the standardization of a unique renewable energy supply chain model, defined as the SURESC model, relating the indirect effect of limiting the number of maturing technologies to allocate resources, to achieve renewable price-parity with conventional energy sources faster. This is a preliminary theoretical study intended to provide a holistic approach to a known problem.

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15

Finocchi, Emiliano. "Standardizing a unique renewable energy supply chain: the SURESC Model." F1000Research 9 (December 3, 2020): 1391. http://dx.doi.org/10.12688/f1000research.27345.1.

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This study intends to dig into the renewable energy industry and drawing from research on learning curves and energy polices, proposes a way to speed-up the energy shift from our fossil-fuel dependency to a green economy. Even though standard economic frameworks suggest that markets and not policy makers should decide winners and losers, we urge to accelerate renewable energy competitiveness, proposing that by limiting the number of renewable technologies where resources are allocated to at government level, we reduce the time within which renewables will achieve technological price parity with fossil fuels. In turn, by analyzing the energy demand and supply curves, the study suggests that this action will also mediate the relation between quantity and price, shifting only the supply curve, leaving the demand curve unaffected. It continues by proposing the standardization of a unique renewable energy supply chain model, later defined as the SURESC model. For such, a deep analysis on existing green technologies will be performed proposing the implementation of a hydrogen through ammonia economy via ammonia for power as key factor for success. This is a preliminary study, first of its kind, intended to provide a holistic approach to a known problem.

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16

Pinhão, Miguel, Miguel Fonseca, and Ricardo Covas. "Electricity Spot Price Forecast by Modelling Supply and Demand Curve." Mathematics 10, no. 12 (June 11, 2022): 2012. http://dx.doi.org/10.3390/math10122012.

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Electricity price forecasting has been a booming field over the years, with many methods and techniques being applied with different degrees of success. It is of great interest to the industry sector, becoming a must-have tool for risk management. Most methods forecast the electricity price itself; this paper gives a new perspective to the field by trying to forecast the dynamics behind the electricity price: the supply and demand curves originating from the auction. Given the complexity of the data involved which include many block bids/offers per hour, we propose a technique for market curve modeling and forecasting that incorporates multiple seasonal effects and known market variables, such as wind generation or load. It is shown that this model outperforms the benchmarked ones and increases the performance of ensemble models, highlighting the importance of the use of market bids in electricity price forecasting.

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17

Wang, Zhaocheng. "Supply and Demand, Tax, Income, Profit and Proof of Goldbach’s Conjecture——Logic is the Basis of Correct Mathematical Measurement." Journal of Economic Science Research 5, no. 4 (January 12, 2023): 22. http://dx.doi.org/10.30564/jesr.v5i4.5275.

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This paper demonstrates that Marshall’s logic on the supply and demand curve is not rigorous enough, that Coase’s theorem is flawed, and that the “Okishio Theorem” and Sweezy s logic are inadequate through empirical proof. By the way, the Goldbach conjecture is proved through clever mathematical proof. It shows that beautiful curves and mathematical formulas cannot be separated from reality and logic, and correct logic can play a correct role in market theory. In this paper, the analysis of the actual supply and demand curve, as well as the concepts and models of tax, profit rate and income, has positive practical significance for economic depression and stagflation.

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18

Arsac, Laurent M., and Elio Locatelli. "Modeling the energetics of 100-m running by using speed curves of world champions." Journal of Applied Physiology 92, no. 5 (May 1, 2002): 1781–88. http://dx.doi.org/10.1152/japplphysiol.00754.2001.

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The present study aims to assess energy demand and supply in 100-m sprint running. A mathematical model was used in which supply has two components, aerobic and anaerobic, and demand has three components, energy required to move forward (C), energy required to overcome air resistance (Caero), and energy required to change kinetic energy (Ckin). Supply and demand were equated by using assumed efficiency of converting metabolic to external work. The mathematical model uses instantaneous velocities registered by the 1997 International Association of Athletics Federations world champions at 100 m in men and women. Supply and demand components obtained in the male champion were (in J/kg) aerobic 30 (5%), anaerobic 607 (95%), C 400 (63%), Caero 83 (13%), Ckin 154 (24%). Comparatively, a model that uses the average velocity of the male and female 100-m champions overestimates Ckin by 37 and 44%, respectively, and underestimates Caero by 14%. We argued that such a model is not appropriate because Ckin and Caero are nonlinear functions of velocity. Neither height nor body mass seems to have any advantage in the energetics of sprint running.

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19

Chen, Ying, Wee Song Chua, and Wolfgang Karl Härdle. "Forecasting limit order book liquidity supply–demand curves with functional autoregressive dynamics." Quantitative Finance 19, no. 9 (July 9, 2019): 1473–89. http://dx.doi.org/10.1080/14697688.2019.1622290.

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20

Thurman, Walter N. "The Welfare Significance and Nonsignificance of General Equilibrium Demand and Supply Curves." Public Finance Quarterly 21, no. 4 (October 1993): 449–69. http://dx.doi.org/10.1177/109114219302100406.

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21

Bullock, David S. "Welfare Implications of Equilibrium Supply and Demand Curves in an Open Economy." American Journal of Agricultural Economics 75, no. 1 (February 1993): 52–58. http://dx.doi.org/10.2307/1242953.

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22

Nieswiadomy, Michael. "A technique for comparing the elasticities of linear demand and supply curves." Atlantic Economic Journal 13, no. 4 (December 1985): 68–70. http://dx.doi.org/10.1007/bf02304039.

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23

Inman, Daniel, Brian Bush, Emily Newes, Corey Peck, and Steven Peterson. "A technique for generating supply and demand curves from system dynamics models." System Dynamics Review 36, no. 3 (July 2020): 373–84. http://dx.doi.org/10.1002/sdr.1663.

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24

Steliac, Nela. "How Effective Was the Romanian Labour Market After 2008?" Journal of International Business Research and Marketing 6, no. 3 (2021): 27–32. http://dx.doi.org/10.18775/jibrm.1849-8558.2015.63.3004.

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The efficient operation of the labour market is a matter of high stake for every state, considering that it reflects the balance between supply and demand. The extent to which such balance is achieved is highlighted by the Beveridge curve. This paper examines the efficient operation of the Romanian labour market, as measured by the relevant indicators of labour demand and supply. In order to capture the evolution of these indicators across the three target sub-periods (the crisis, the rebound and the resumption of an upward trend), the timeline subject to survey was 2008Q2-2016Q3. The survey conducted for this purpose revealed fluctuations in the number and rate of job vacancies, respectively in the unemployment rate. However, in the last part of the surveyed period, the trend of such indicators was downward for the unemployment rate and upward for the number and rate of job vacancies. Even so, these indicators failed to match the levels recorded before the outbreak of the economic crisis. Due to such evolutions, the Beveridge curve presented shifts of direction specific to the three sub-periods. Throughout the last part of the surveyed period, the curve seemed to recover slightly towards the top-left direction at national level. However, regionally, the evolutions of labour supply and demand varied, and the Beveridge curves varied accordingly. Surprisingly, it was not Bucharest-Ilfov, considered the best economically developed area in Romania, which reported the best correlation between labour supply and demand, but the Central region.

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25

Canning, Patrick N., and Harry Vroomen. "Measuring Welfare Impacts from Equilibrium Supply and Demand Curves: An Antidumping Case Study." American Journal of Agricultural Economics 78, no. 4 (November 1996): 1026–33. http://dx.doi.org/10.2307/1243858.

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26

Burnetas, Apostolos, and Peter Ritchken. "Option Pricing with Downward-Sloping Demand Curves: The Case of Supply Chain Options." Management Science 51, no. 4 (April 2005): 566–80. http://dx.doi.org/10.1287/mnsc.1040.0342.

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27

Schirigatti, Elisangela Lobo, Giovanna Paiva Aguiar, Joao Carlos Garzel Leodoro da Silva, José Roberto Frega, Alexandre Nascimento de Almeida, and Vitor Afonso Hoeflich. "Market Behavior for in Shell Brazil Nuts Produced in Brazil from 2000 to 2010." Floresta e Ambiente 23, no. 3 (May 3, 2016): 369–77. http://dx.doi.org/10.1590/2179-8087.075614.

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ABSTRACT This paper aimed to analyze the market behavior of in shell Brazil nuts produced by Brazil during the period of 2000 to 2010. In order to do it, structural brakes in the data were identified, the existence of correlations between the variables price, quantity and value was investigated; and the shift of the supply and demand curves was described for the nuts production. The trend model was used to identify the direction of the shift, by calculating the growth rates of national prices and of produced quantities. When analyzing the whole period (2000-2010), there was a positive shift of the demand curve, but when separately analyzing the two sub periods defined by the Chow test (2000-2005 and 2006-2010), a negative shift of the supply curve was identified on the first sub period, while the second subperiod revealed a positive shift of the supply curve. The results showed that the market of Brazil nuts is ascending and that the government’s incentive policies to the activity were effective.

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28

Haugen, Kjetil, and Knut P. Heen. "The market demand- (and supply) curve paradox." Economics and Business Letters 10, no. 1 (February 21, 2021): 69–71. http://dx.doi.org/10.17811/ebl.10.1.2021.69-71.

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After many years of teaching utility maximization in Microeconomics a certain paradoxical puzzle has come to our attention. It is very simple and straightforward, but we still find it hard to explain it to students. Our hope is that the distinguished community of theoretical economists may help us solve this mystery. After all, we would find it extremely unlikely that we are the first persons to identify this paradox.

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29

Fernandez-Lacruz, Raul, Anders Eriksson, and Dan Bergström. "Simulation-Based Cost Analysis of Industrial Supply of Chips from Logging Residues and Small-Diameter Trees." Forests 11, no. 1 (December 18, 2019): 1. http://dx.doi.org/10.3390/f11010001.

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Research Highlights: The use of terminals can increase supply costs by 5–11% (when compared to direct supply), but terminals help secure supply during peak demand and cope with operational problems in the supply fleet in cases where direct supply chains would be unable to meet demand on time. Background and Objectives: This work analyses the supply cost of chipped logging residues and small-diameter trees, from chipping at roadside storages to delivery to the end-user. Factors considered include demand curves (based on the requirements of a theoretical combined heat and power plant or biorefinery); demand volume; and mode of supply (direct or combined via terminal). The impact of longer trucking distances from the sites, and supply integration between forest and other land (varying relocation distances) was also assessed. Materials and Methods: The operational environment and work of a theoretical chip supplier in northern Sweden were modelled and simulated in ExtendSim®. Results: The mean supply cost of chips was 9% higher on average for combined chains than for direct chains. Given a high demand, 8% of the annual demand could not be delivered on time without using a terminal. High supply integration of forest and other land reduced supply costs by 2%. Contractors’ annual workloads were evened out by direct supply to the biorefinery (which has a relatively steady demand) or supply via-terminal independently of the end-user. Keeping distinct chips from different sites (implying that trucks were not always fully loaded) instead of mixing chips from different sites until the trucks were fully loaded increased supply costs by 12%. Conclusions: Terminals increase supply costs, but can enable demand to be met on time when direct supply chains alone might fail. Integrated supply planning could reduce supply costs by increasing the utilization of residual biomass from other land.

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Hallett, A. J. Hughes. "AGGREGATE PHILLIPS CURVES ARE NOT ALWAYS VERTICAL: HETEROGENEITY AND MISMATCH IN MULTIREGION OR MULTISECTOR ECONOMIES." Macroeconomic Dynamics 4, no. 4 (December 2000): 534–46. http://dx.doi.org/10.1017/s1365100500017065.

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The aggregation of sectoral or regional Phillips curves yields an inflation–unemployment trade-off that is not vertical in the long run if there are mismatches between supply and demand in the regional or sectoral labor markets. This remains true even when the individual Phillips curves are all vertical. This result stems from variations in the slope of the individual short-run Phillips curves, rather than from changes to the equilibrium level of unemployment. It implies a role for the management of the distribution of demand over different sectors or regions, in order to minimize the natural rate of unemployment.

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Koshal, Rajindar K., Manjulika Koshal, and Beth Marino. "High school dropouts: a case of negatively sloping supply and positively sloping demand curves." Applied Economics 27, no. 8 (August 1, 1995): 751–57. http://dx.doi.org/10.1080/00036849500000065.

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32

Jhun, Jennifer S. "What’s the Point of Ceteris Paribus? or, How to Understand Supply and Demand Curves." Philosophy of Science 85, no. 2 (April 2018): 271–92. http://dx.doi.org/10.1086/696385.

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Jain, Ankit, Prasanna Tantri, and Ramabhadran S. Thirumalai. "Demand curves for stocks do not slope down: Evidence using an exogenous supply shock." Journal of Banking & Finance 104 (July 2019): 19–30. http://dx.doi.org/10.1016/j.jbankfin.2019.03.012.

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34

Michail, Nektarios A., and Konstantinos D. Melas. "Sentiment-Augmented Supply and Demand Equations for the Dry Bulk Shipping Market." Economies 9, no. 4 (November 5, 2021): 171. http://dx.doi.org/10.3390/economies9040171.

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We present, for the first time in the literature, empirical estimates of the supply and demand curves for the ocean-going dry bulk sector, using a three-stage least squares methodology. Furthermore, we augment these functions with sentiment, which appears to have a positive and significant impact on supply. This supports the view that the outlook that shipowners have about the market will undoubtedly influence their decisions regarding purchasing vessels or bringing them out of lay up. Thus, our results highlight the fact that future expectations have an impact on current pricing, albeit indirectly, through their impact on the supply side. Our results further enhance the behavioral economics literature and provide important insights for both academics and professionals.

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Saad Omer, T. Z., S. E. Ahmed, and A. Karimi. "OPTIMAL OPERATION OF MULTIPURPOSE RESERVOIRS IN SERIES: ROSEIRES AND SENNAR CASE STUDY." Міжвідомчий тематичний науковий збірник "Меліорація і водне господарство", no. 2 (December 23, 2021): 5–23. http://dx.doi.org/10.31073/mivg202102-310.

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The Roseires-Sennar Dams System (RSDS) at lower part of Blue Nile River play a vital role in water supply to the irrigation schemes in Sudan. The existing rule curves for this system belong to 1925 and 1966 for Sennar and Roseires reservoirs, respectively. Introduction of new irrigation schemes, approved climate change impacts on Blue Nile River flow and upstream developments in Ethiopia as well as the heightening of the Roseires Dam from elevation 480 to 490 m.a.s.l have shown the RSDS is losing its efficiency in terms of fully supplying the water demands. The literature addresses the simulation of Roseires and Sennar dams, and tries to find the best coordinated rule curves through a limited number of operation rules to find optimal operating rules for reservoirs that minimize the impacts of new developments, water demand growth and climate change on water supply to various demands on Blue Nile River. Such decisions are locally optimal in best condition since they do not consider the storage and carry-over capability of reservoirs that can transfer the non-optimal (locally optimal) decisions to other time steps of planning horizon and creat shortages in other time steps. Therefore, aim of this research is to find optimal coordinating operation rules for Roseires and Sennar dams that through a non-linear multi-period optimization model that considers the conditions of climate change, flow regime and water demand as scenarios. Model is validated by comparison with observed reservoir operation during November 1999 till May 2000. Eighteen scenarios that cover the normal, dry and very dry flow regimes, along with three suggested crop patterns and climate change impact are analyzed. Results shows in normal conditions of flow, crop pattern 2 is the most recommended with more than 11 Billion USD marginal profit and fully supplying the water demand and 1530 GWh energy generation per annum. The coordinated rule curves have a totally different pattern of emptying and filling compared with existing ones. Rule curves change from one flow regime to another, which proves how change in conditions of the system has influence on optimal operation rules. Comparison of marginal profits with crop pattern 2 shows in three inflow conditions of normal, dry and very dry years multi-period optimization model could keep the marginal profits above 11 Billion USD, let’s say, 11,050, 11,056 and 11,042 Billion USD, respectively, which shows the robustness of model in dealing with all conditions and keeping the marginal profits not affected. However, the Roseires rule curves are different in these three condition, while Sennar rules curves are almost the same. Without climate change impact, model can manage to supply the water demands fully in all flow conditions. However, water supply reliability is affected by climate change with all crop patterns. Roseires-Sennar Dams system in a normal year under climate change can produce 10,688 Billion USD marginal profit and 1371 GWh per year energy. It shows that model could manage the system performance so that climate change decrease the marginal profit by 3.27%, while inflow is reduced by 25% and water demands and evaporation increased by 19%. Energy generation under climate change has decreased by 10.5%, which is the most affected sector. Crop pattern 2 and 3 are not suitable for climate change conditions since up to 65% deficit in water supply can happen if very dry year realizing with climate change. In very dry conditions crop pattern 1 is more suitable to be practiced.

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Golub, Aleksander S., Sami C. Dodhy, and Roland N. Pittman. "Oxygen dependence of respiration in rat spinotrapezius muscle contracting at 0.5–8 twitches per second." Journal of Applied Physiology 125, no. 1 (July 1, 2018): 124–33. http://dx.doi.org/10.1152/japplphysiol.01136.2016.

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The oxygen dependence of respiration was obtained in situ in microscopic regions of rat spinotrapezius muscle for different levels of metabolic activity produced by electrical stimulation at rates from 0.5 to 8 Hz. The rate of O2 consumption (V̇o2) was measured with phosphorescence quenching microscopy (PQM) as the rate of O2 disappearance in a muscle with rapid flow arrest. The phosphorescent oxygen probe was loaded into the interstitial space of the muscle to give O2 tension (Po2) in the interstitium. A set of sigmoid curves relating the Po2 dependence of V̇o2 was obtained with a Po2-dependent region below a characteristic Po2 (~30 mmHg) and a Po2-independent region above this Po2. The V̇o2(Po2) plots were fit by the Hill equation containing O2 demand (rest to 8 Hz: 216 ± 26 to 636 ± 77 nl O2/cm3 s) and the Po2 value corresponding to O2 demand/2 (rest to 8 Hz: 22 ± 4 to 11 ± 1 mmHg). The initial Po2 and V̇o2 pairs of values measured at the moment of flow arrest formed a straight line, determining the rate of oxygen supply. This line had a negative slope, equal to the oxygen conductance for the O2 supply chain. For each level of tissue blood flow the set of possible values of Po2 and V̇o2 consists of the intersection points between this O2 supply line and the set of V̇o2 curves. An electrical analogy for the intraorgan O2 supply and consumption is an inverting transistor amplifier, which allows the use of graphic analysis methods for prediction of the behavior of the oxygen processing system in organs. NEW & NOTEWORTHY The sigmoidal shape of curves describing oxygen dependence of muscle respiration varies from basal to maximal workload and characterizes the oxidative metabolism of muscle. The rate of O2 supply depends on extracellular O2 tension and is determined by the overall oxygen conductance in the muscle. The dynamics of oxygen consumption is determined by the supply line that intersects the oxygen demand curves. An electrical analogy for the oxygen supply/consumption system is an inverting transistor amplifier.

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Rodriguez-Lizano, Víctor, Mercedes Montero-Vega, and Javier Paniagua-Molina. "Free Trade Agreement: Impacts on the Costa Rican Dairy Market." Applied Studies in Agribusiness and Commerce 12, no. 1-2 (May 2, 2018): 83–90. http://dx.doi.org/10.19041/apstract/2018/1-2/11.

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According to the Free Trade Agreement with Central America, Dominican Republic and United States signed in 2008, milk import tariff reliefs will stagger down from 59,4% to 0% by 2025. This study determined milk demand and supply curves in the Costa Rican domestic market. Several variables and two different models were conducted to estimate milk demand and supply: Ordinary Least Squares and Two Stages Least Square simultaneous equations. In both cases, demand was estimated by income and milk prices as independent variables; while supply was estimated by input and milk prices. Nonetheless, the best fit was obtained by TSLS model because it accounts for endogeneity among price and quantity. Based on this model, if domestic prices are supposed to decrease due to increasing quantities of imported lower-priced milk, then national demand would increase (9% average) and national production is expected to decrease (26% average). The gap between national milk demand and supply is expected to be filled by milk imported from United States; assuming 0% tariff, no transaction costs and constant share of exports within national production. JEL Classification: F1, Q17

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Cullis, James D. S., Nicholas J. Walker, Fadiel Ahjum, and Diego Juan Rodriguez. "Modelling the water energy nexus: should variability in water supply impact on decision making for future energy supply options?" Proceedings of the International Association of Hydrological Sciences 376 (February 1, 2018): 3–8. http://dx.doi.org/10.5194/piahs-376-3-2018.

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Abstract. Many countries, like South Africa, Australia, India, China and the United States, are highly dependent on coal fired power stations for energy generation. These power stations require significant amounts of water, particularly when fitted with technology to reduce pollution and climate change impacts. As water resources come under stress it is important that spatial variability in water availability is taken into consideration for future energy planning particularly with regards to motivating for a switch from coal fired power stations to renewable technologies. This is particularly true in developing countries where there is a need for increased power production and associated increasing water demands for energy. Typically future energy supply options are modelled using a least cost optimization model such as TIMES that considers water supply as an input cost, but is generally constant for all technologies. Different energy technologies are located in different regions of the country with different levels of water availability and associated infrastructure development and supply costs. In this study we develop marginal cost curves for future water supply options in different regions of a country where different energy technologies are planned for development. These water supply cost curves are then used in an expanded version of the South Africa TIMES model called SATIM-W that explicitly models the water-energy nexus by taking into account the regional nature of water supply availability associated with different energy supply technologies. The results show a significant difference in the optimal future energy mix and in particular an increase in renewables and a demand for dry-cooling technologies that would not have been the case if the regional variability of water availability had not been taken into account. Choices in energy policy, such as the introduction of a carbon tax, will also significantly impact on future water resources, placing additional water demands in some regions and making water available for other users in other regions with a declining future energy demand. This study presents a methodology for modelling the water-energy nexus that could be used to inform the sustainable development planning process in the water and energy sectors for both developed and developing countries.

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Bede, Zsuzsanna, and Adam Torok. "Theoretical Investigation of Traffic Equilibrium on Bridges." Transport and Telecommunication Journal 15, no. 2 (June 1, 2014): 144–50. http://dx.doi.org/10.2478/ttj-2014-0013.

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Abstract Road traffic flows on a straight road segment such as bridges are modelled in this article. The mathematical model of traffic flows has been constructed by using the method of lumped parameters. Changeable lane direction and road pricing has been theoretically investigated in order to understand the shifting in supply and/or demand curves of traffic participants in equilibrium. The article presents assumptions for constructing the mathematical model. Demand can be influenced by road pricing, in its turn, supply can be influenced by extension of infrastructure with reversible lanes.

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Bizyanov, Yevgeny, and Nataliia Podgornaya. "Price Setting Dynamics Modeling on the One Product Market Under Uncertainty." Vestnik Volgogradskogo gosudarstvennogo universiteta. Ekonomika, no. 4 (February 2021): 41–49. http://dx.doi.org/10.15688/ek.jvolsu.2020.4.4.

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This article discusses various options for studying the classic Evans model for assessing the dynamics of price setting for a new good in the conditions of uncertainty in the behavior of the market and the producer. The Evans model with fuzzy coefficients for supply and demand curves was used for modeling. As a result, it was found that when the level of opportunity for the parameters of the supply and demand curves change, the ranges of the equilibrium price will change, as well as the time of its establishment – the achievement of the equilibrium level. In addition, modeling was produced taking into account the lag in the supply from around the delay in the receipt of information on sales. The introduction of a fuzzy lag into the Evans model at a certain ratio of supply and demand parameters leads to significant price fluctuations, which can upset the equilibrium in the market, as well as lead to significant fluctuations in profit for the producer. The implementation of the Evans model with a lag in the proposal was carried out using the Simulink program of the Matlab. As a result of modeling, the dependences of the time for establishing the equilibrium price and the elevation of the price amplitude over its equilibrium value were obtained as a function of the opportunity’s level.

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SCHULTZ, PAUL. "Downward-Sloping Demand Curves, the Supply of Shares, and the Collapse of Internet Stock Prices." Journal of Finance 63, no. 1 (January 10, 2008): 351–78. http://dx.doi.org/10.1111/j.1540-6261.2008.01318.x.

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Gagnon, Etienne, and David López-Salido. "Small Price Responses to Large Demand Shocks." Journal of the European Economic Association 18, no. 2 (February 22, 2019): 792–828. http://dx.doi.org/10.1093/jeea/jvz002.

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Abstract We study the pricing response of U.S. supermarkets to large demand shocks triggered by labor conflicts, mass population displacement, and shopping sprees around major snowstorms and hurricanes. We find that these large swings in demand have, at best, modest effects on the level of retail prices, consistent with flat short- to medium-term supply curves. This finding holds even when shocks are highly persistent and despite the fact that stores adjust prices frequently. We also provide evidence that retailers maintain frequent promotional sales even as their demand varies and that they seek to match movements in their local competitors’ recourse to promotional sales.

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Rappai, Gábor, and Diána Ivett Fűrész. "Handling heteroskedasticity in labour demand functions of athletes." Croatian Review of Economic, Business and Social Statistics 4, no. 2 (November 1, 2018): 47–56. http://dx.doi.org/10.2478/crebss-2018-0012.

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AbstractBased on previous research it can be stated that modelling sport economics related demand curves (e.g. demand for sport events and athletes) is different from other types of modelling. The difference lies in the fact that some parts of the demand curves are nearly horizontal in case of sport goods and nearly vertical in case of athletes, because the price of sport events is inflexible and at the same time, salaries of top athletes are extremely flexible. This study investigates parameter estimation methods appropriate for the relevant demand functions of sport economics. In this cases the generally used ordinary least squares estimator is less robust, so the weighted least squares estimators are able to handle heteroskedasticity. If the distribution of the variables is known, the Newey-West heteroscedasticity corrected estimates give even stronger results. The empirical study analyses footballer transfer fees in top European leagues and identifies a threshold at which the traditional supply-demand functions are not appropriate. According to the results, word class athletes, in a way, can be considered prestige goods for which demand may be irrational.

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Özçam, Ahmet. "Should before or after tax equilibria point elasticities be calculated when the Laffer effect is considered in a micro market?" Journal of Economic Studies 41, no. 6 (November 10, 2014): 754–70. http://dx.doi.org/10.1108/jes-11-2012-0152.

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Purpose – Traditionally, the Laffer effect has been discussed in the context of endogenous growth models or in the case of the labor market with respect to willingness to supply more labor given a tax incentive on wages. The paper adopts an inductive approach to discuss it in the context of a product's market, say automobile industry in Turkey. Design/methodology/approach – The author revisits the ad valorem tax model on a product and investigates how the elasticities of demand and supply and the tax rate are related to the Laffer effect. The author considers a special case where demand curve is non-linear and the supply curve is completely elastic. This specific model fits the practical case where the Turkish government expected the auto sellers to pass fully the temporary partial tax concession onto the consumers during the global crisis in 2009. Findings – The author showed that the demand elasticitiy must be calculated neither at the intersection of the initial equilibrium nor that of the final equilibrium points, but somewhere else. The author defined a pass-through coefficient which was different from the classical burden of tax concept, calculating the degree of pass-through of a tax decrease from firms to consumers. Moreover, the author found a one-way relationship between the overall tax revenues of the government and a single sector. Research limitations/implications – The case of tax revenues where both the demand and supply curves are non-linear and non-extreme must be solved. Practical implications – The author showed that the government's dual expectation of both boosting the economy, increasing employment and raising its tax revenues can sometimes be consistent given a usual upward sloping supply curve. In the case of a perfectly elastic supply curve, the tax revenues can even be higher with a higher level of equilibrium quantity. Social implications – The Turkish government aiming to support the production and employment in this leading export industry, may have expected this temporary tax decrease to be passed completely onto the consumers by the producers. However, this did not happen as producers’ prices to the consumers did not decrease as much as the amount of tax. This paper shows that the after tax elasticities and the current level of tax rate must have been compared. Originality/value – The author pointed out to the importance of being clear in explicitly indicating at which points the elasticities derived from some function (tax revenue function) of equilibria variables (price and quantity) must be interpreted. In this paper, doing many numerical calculations allowed us to notice the proper point of calculation of the demand elasticity, which is the after-tax price along the “no tax demand curve”. Moreover, a pass-through coefficient is defined which is different from the classical burden of tax concept.

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Ishii, Yoshikazu. "Electricity Demand and Supply Curve Estimation with Neural Network." IEEJ Transactions on Power and Energy 141, no. 5 (May 1, 2021): 384–90. http://dx.doi.org/10.1541/ieejpes.141.384.

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Al-Shamma’a, Abdullrahman A., Fekri Abdulraqeb Ahmed Ali, Mansour S. Alhoshan, Fahd A. Alturki, Hassan M. H. Farh, Javed Alam, and Khalil AlSharabi. "Proton Exchange Membrane Fuel Cell Parameter Extraction Using a Supply–Demand-Based Optimization Algorithm." Processes 9, no. 8 (August 16, 2021): 1416. http://dx.doi.org/10.3390/pr9081416.

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For proton exchange membrane fuel cells (PEMFCs), the parameter extraction issue is among the most widely studied problems in the field of energy storage systems, since the precise identification of such parameters plays an important role in increasing the PEMFC performance and life span. The optimization process is intended to adjust the performance of PEMFCs by appraising the optimal parameters that produce a good estimation of the current–voltage (I–V) curve. In order to build an accurate equivalent circuit model for PEMFCs, a reliable and effective parameter extraction algorithm, termed a supply–demand-based optimization (SDO) algorithm, is proposed in this paper. Nine parameters (ξ1, ξ2, ξ3, ξ4, Rc, β, λ, l, and Jmax) are evaluated, to minimize the sum squared deviation (SSE) between the experimental and simulated I–V curves. To validate the feasibility and effectiveness of the SDO algorithm, four sets of experimental data with diverse characteristics and two well-known PEMFC stacks (BSC500W and 500W Horizon) are employed. Comparison of the simulated and experimental results clearly demonstrates the superiority/competitiveness of the SDO algorithm over five well-established parameter extraction algorithms, i.e., the whale optimization algorithm (WOA), grey wolf optimization (GWO), Harris hawks optimization (HHO), and genetic algorithm (GA). Several evaluation criteria, including best SSE, worst SSE, mean SSE, and standard deviation, show that the SDO algorithm has merits in terms of PEMFC modeling.

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47

Segal, Ilya. "Optimal Pricing Mechanisms with Unknown Demand." American Economic Review 93, no. 3 (May 1, 2003): 509–29. http://dx.doi.org/10.1257/000282803322156963.

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The standard profit-maximizing multiunit auction intersects the submitted demand curve with a preset reservation supply curve, which is determined using the distribution from which the buyers' valuations are drawn. However, when this distribution is unknown, a preset supply curve cannot maximize monopoly profits. The optimal pricing mechanism in this situation sets a price for each buyer on the basis of the demand distribution inferred statistically from other buyers' bids. The resulting profit converges to the optimal monopoly profit with known demand as the number of buyers goes to infinity, and convergence can be substantially faster than with sequential price experimentation.

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Graves, Philip E., Robert L. Sexton, and Lauren M. Calimeris. "The Educational Choice Anomaly for Principles Students: Using Ordinary Supply and Demand Rather than Indifference Curves." Journal of Economic Education 42, no. 3 (July 2011): 310–14. http://dx.doi.org/10.1080/00220485.2011.581959.

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Heilemann, Ullrich, and Hagen Findeis. "Empirical determination of aggregate demand and supply curves: The example of the RWI Business Cycle Model." Economic Modelling 29, no. 2 (March 2012): 158–65. http://dx.doi.org/10.1016/j.econmod.2011.09.003.

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Xue, Weili, Xiaolin Xu, and Lijun Ma. "Options Procurement Policy for Option Contracts with Supply and Spot Market Uncertainty." Discrete Dynamics in Nature and Society 2014 (2014): 1–7. http://dx.doi.org/10.1155/2014/906739.

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Supplier’s reliability is a major issue in procurement management. In this paper, we establish a decision making model from the perspective of the firm who will procure from the multiple suppliers and the spot markets. The suppliers are unreliable and provide different types of option-type supply contracts which should be made before demand realization, while the spot market can only be used after demand realization and has both the price and liquidity risks. We establish the optimal portfolio policies for the firm with conditions to find the qualified suppliers. By defining a new function which contains the demand risk, the supplier’s risk, and the liquidity risk, we find that the optimal policy is to allocate different curves of this function to different suppliers. We also study some special cases to derive some managerial insights. At last, we numerically study how the various risks affect the choice of suppliers and the value of the option contract.

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