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Limit price
About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.
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TL;DR: This article examined the transmission of international coffee prices through the domestic value chain in Uganda and found that producer price fluctuations are inconsistent with constant transaction costs, and investigated three possible explanations for this finding: storage and contango, marketing costs that increase with price, and trader entry that raises search time.
Abstract: Using detailed data from three simultaneous surveys of producers, traders, and exporters, this paper examines the transmission of international coffee prices through the domestic value chain in Uganda. We find that producer price fluctuations are inconsistent with constant transaction costs. We investigate three possible explanations for this finding: storage and contango, marketing costs that increase with price, and trader entry that raises search time. We test and reject the storage and marketing costs explanation, but we find some evidence of trader entry in response to a rise in export price. Our findings suggest that small itinerant traders enter in response to an export price increase, probably taking advantage of farmers’ ignorance of the rise in wholesale price.
119 citations
TL;DR: In this article, a jump-diffusion type model was proposed to recover the main characteristics of electricity spot price dynamics in the Nordic market, including seasonality, mean-reversion and spiky behavior.
119 citations
TL;DR: In this article, the authors examine the effects of firm-level innovation in carbon-abatement technologies on optimal cap-and-trade schemes with and without price controls and show that an increase in innovation effectiveness lowers the optimal emissions cap, and leads to relaxed price controls unless the slope of the marginal environmental damage curve is small.
119 citations
01 Jan 1996
TL;DR: In this article, the problem of determining the retailer's optimal price and lot size simultaneously under conditions of permissible delay in payments is investigated, and an algorithm whose validity is illustrated through an example problem is developed.
Abstract: This paper deals with the problem of determining the retailer's optimal price and lot size simultaneously under conditions of permissible delay in payments. It is assumed that the ordering cost consists of a fixed set-up cost and a freight cost, where the freight cost has a quantity discount offered due to the economies of scale. The constant price elasticity demand function is adopted, which is a decreasing function of retail price. Investigation of the properties of an optimal solution allows us to develop an algorithm whose validity is illustrated through an example problem.
118 citations
TL;DR: In this article, a multi-country, crop-and calendar-specific, seasonally disaggregated model with price changes and price volatility applied accordingly was used to estimate the worldwide aggregate supply response for key agricultural commodities.
Abstract: This study estimates a worldwide aggregate supply response for key agricultural commodities—namely, wheat, rice, corn, and soybeans—by employing a newly developed multi-country, crop- and calendar-specific, seasonally disaggregated model with price changes and price volatility applied accordingly. The findings reveal that although higher output prices serve as incentives to improve global crop supply as expected, output price volatility acts as a disincentive. Depending on the crop, the results show that own-price supply elasticities range from about 0.05 to 0.40. Output price volatility, however, has negative correlations with crop supply, implying that farmers shift land, other inputs, and yield-improving investments to crops with less volatile prices. Simulating the impact of price dynamics since 2006, we find that price risk has reduced the production response of wheat in particular—and to a lesser extent, rice—thus dampening price incentive effects. The simulation analysis shows that the increase in own-crop price volatility during the 2006–2010 period has dampened yield by about 1–2 % for the crops considered.
118 citations