Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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TL;DR: This paper proposed a graphical approach by expressing the elasticity as relative slopes, and performed a comprehensive examination of how price elasticity varies along a demand or supply curve, both in linear and nonlinear cases.
Abstract: Price elasticity and the slope of a demand or supply curve are closely related concepts that address the relationship between a price change and the resulting quantity change. At times, however, the link between these two concepts can appear to be counterintuitive, presenting potential pedagogical challenge. We propose a graphical approach by expressing the elasticity as relative slopes, and perform a comprehensive examination of how price elasticity varies along a demand or supply curve, both in linear and nonlinear cases. We suggest that this less well-known technique provides a viable alternative to facilitate better understanding of the seemingly elusive link between elasticity and slope.
Cites background from "Intermediate microeconomics : A mod..."
...On the contrary, the concept of elasticity in most popular intermediate-level microeconomics textbooks, such as Perloff (2014), Varian (2010), and Nicholson and Snyder (2015), is that of the point elasticity....
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Posted Content•
01 Jan 2011
TL;DR: In this paper, the authors conducted an evaluation on if these kinds of geopolitical events within the OPEC have affected the oil price in the past in the same way as a contrary variable, the VIX-index is a good indicator of decreasing oil prices.
Abstract:
The spring of 2011 unrest grew in the Middle East and North Africa, and as a result
we saw a surge in in oil prices. This essay conducts an evaluation on if these kinds of
geopolitical events within the OPEC have affected the oil price in the past in the same
way. As a contrary variable we have also assessed if the VIX-index is a good
indicator of decreasing oil prices. We have used an approach where we compare
Average Absolute Returns between periods of geopolitical events and the entire time
period, and a linear regression study when looking at the affects of the VIX-index.
We have selected a time period stretching from 1990:01.02 to 2009:12:31 and the
data used is daily spot prices and quotes. Our results suggested that the geopolitical
events do have a positive impact on the oil price, however this cannot be confirmed
because of weak significance. The impact of the VIX-index cannot either be
confirmed because of low significance and nor could sign of influence or correlation
be found.
01 Oct 2015
TL;DR: A new reverse auction-based access rate allocation mechanism to maximize the utility of the Femtocell access point (FAP) and the user for hybrid femtocell networks and treats the access rate as a trade commodity.
Abstract: Femtocell enable larger network capacity by improving channel state and reducing transmission distance. Hybrid access is an efficient approach to reduce cross-tier inference so as to enhance overall network performance. In this paper, we propose a new reverse auction-based access rate allocation mechanism to maximize the utility of the femtocell access point (FAP) and the user for hybrid femtocell networks. We treat the access rate as a trade commodity. The macro users in dead zone acts as auctioneer (buyer) and femtocell access point act as bidder (seller). Numerical results show that the proposed method can achieve higher system utility in contrast to random selected method.