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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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01 Jan 2019
TL;DR: In this article, the authors present the application of multiagent systems to solve demand management in power systems, where the agent has previous information on the power demand and the prices, and by applying an evolutionary algorithm, it can propose the best way to use energy to minimize the costs.
Abstract: The smart grids allow more interactivity between consumers and power utility, increasing the consciousness regarding energy efficiency. The application of distributed control is promising in this new grid, such as multiagent systems. This paper presents the application of multiagent systems to solve demand management in power systems. The agent has previous information on the power demand and the prices, and by applying an evolutionary algorithm, it can propose the best way to use energy to minimize the costs. Two different cases of dynamic pricing are investigated, and the results are described, showing the possibility to apply the proposed methodology. Resumo: As redes elétricas inteligentes proporcionam maior interatividade entre os consumidores e a concessionária, aumentando a consciência do primeiro em relação ao uso eficiente da eletricidade. Neste contexto, a aplicação de sistemas de controle distribuídos parece ser promissora, destacando-se a aplicação de sistemas multiagentes para diversas tarefas. Este artigo apresenta a aplicação de sistemas multiagentes para solução do problema de gerenciamento de demanda em redes elétricas. O agente possui informações prévias sobre o uso de eletricidade do consumidor e dos preços das tarifas, e usando um algoritmo evolutivo, ele é capaz de propor o melhor uso da eletricidade de forma a minimizar os custos mensais. Dois casos diferentes de tarifação horária são investigados e os resultados são descritos, mostrando a possibilidade de aplicação da metodologia proposta.
Cites background from "Intermediate microeconomics : A mod..."
...Mais precisamente, ∆𝑥1 𝑠 é a taxa de mudança na demanda do produto quando o preço do mesmo varia para 𝑝1 ′ , e ao mesmo tempo, o poder de compra permanece igual (2) (Varian, 2005)....
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...Sob o ponto de vista microeconômico, podemos usar a equação de Slutsky (1) para analisar o bem energia elétrica (Varian, 2005): ∆𝑥1 = ∆𝑥1 𝑠 + ∆𝑥1 𝑛 (1) De acordo com (1), a quantidade demandada de um bem é a soma de dois efeitos: o de substituição (∆𝑥1 𝑠) e da receita (∆𝑥1 𝑛)....
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01 Jan 2021
TL;DR: In this paper, the authors consider a world without taxes, where consumers and producers are assumed to behave in a perfectly competitive economy, and the fundamental concepts of market equilibrium are elaborated through figures and explanations in this chapter.
Abstract: In a world without taxes, how consumers and producers are assumed to behave in a perfectly competitive economy is addressed in this chapter. Consumers express their demands for products in the marketplace reflected in their ‘utility functions’. Producers use engineering technology and associated costs to construct factories and warehouses that comprise their fixed cost for their production structure. They also use machinery, raw materials and labour and obtain their input prices from the market. They combine fixed cost with the variable costs, the former remaining constant and the latter varying with the quantity they choose to produce. In turn, that determines their supply in the market revealing how much they will supply at each price faced by their product. Thus, all consumers combine to generate varying market demands at different market prices and all suppliers combine to generate changing market supplies at different market prices. An equilibrium price–quantity combination occurs where the schedules or curves of market demand and supply of a commodity intersect. At the equilibrium, the ‘marginal rates of substitution’ among consumers equal the ‘marginal rates of transformation’ among producers. These foundational concepts of market equilibrium are elaborated through figures and explanations in this chapter.
01 Jan 2005
TL;DR: In this article, the authors discuss and analyse the American cotton subsidies' effect on the world market in general and developing countries in particular, and the effect has been that African and Brazilian producers' income has decreased because they cannot sell at a price below the production cost.
Abstract: The aim of this thesis is to discuss and analyse the American cotton subsidies’ effect on the world market in general and developing countries in particular. The amount of U.S. subsidies is substantial compared to most other countries, but a great deal of the effect is due to the USA’s significant share of the market. With the help of a partial equilibrium analysis, it can be shown that subsidies increase the quantity produced and therefore the export. Domestic exporters of the product benefit from this policy while it is unfavourable to foreign exporters and it also strains the government budget. In the short run, the world market price of cotton has decreased while the American export has increased. The effect has been that African and Brazilian producers’ income has gone down because they cannot sell at a price below the production cost. With a petition to WTO, Brazil has tried to correct this and WTO ruled in its’ favour. The consequence of this ruling is yet to come but hopefully it will affect the Doha development round of talks.