Limit price

About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.

Price Dynamics in a Vertical Sector: The Case of Butter

Abstract: We develop a reduced-form model of price transmission in a vertical sector, allowing for refined asymmetric, contemporaneous and lagged, own and cross-price effects under time-varying volatility. The model is used to investigate the wholesale-retail price dynamics in the U.S. butter market. The analysis documents the nature of nonlinear price dynamics in a vertical sector. It finds strong evidence of asymmetric retail price responses, both in the short term and the longer term, but only weak evidence of asymmetric wholesale price responses. Asymmetric retail responses play a major role in generating a skewed distribution of butter prices. The empirical results indicate the presence of imperfect competition at the retail level.

Electronic security/stock trading system with voice synthesis response for indication of transaction status

Abstract: An electronic dealing system which electronically performs matching processing between the information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions, which system sets a margin relative to a last trade price, calculates a decision price from the last trade price and the set margin when the last trade price has been determined, detects if a situation has occurred which is disadvantageous to the customer under current market conditions with respect to the price of the offered order by judging the relative size of the price of the order placed by the order side customer and the calculated decision price, and outputs an alarm when it detects the occurrence of a disadvantageous situation, whereby the load on the customer is lightened and the customer can trade with more certainty.

Output price and markup dispersion in micro data: The roles of producer heterogeneity and noise

Abstract: This chapter provides empirical evidence on the extent of producer heterogeneity in the output market by analyzing output price and price-marginal cost markups at the plant level for thirteen homogeneous manufactured goods. It relies on micro data from the U.S. Census of Manufactures over the 1963–1987 period. The amount of price heterogeneity varies substantially across products. Over time, plant transition patterns indicate more persistence in the pricing of individual plants than would be generated by purely random movements. High-price and low-price plants remain in the same part of the price distribution with high frequency, suggesting that underlying time-invariant structural factors contribute to the price dispersion. For all but two products, large producers have lower output prices. Marginal cost and the markups are estimated for each plant. The markup remains unchanged or increases with plant size for all but four of the products and declining marginal costs play an important role in generating this pattern. The lower production costs for large producers are, at least partially, passed on to purchasers as lower output prices. Plants with the highest and lowest markups tend to remain so over time, although overall the persistence in markups is less than for output price, suggesting a larger role for idiosyncratic shocks in generating markup variation.

Price concessions, time on the market, and the actual sale price of homes

Abstract: This article examines the relationships between listing price concessions, time on the market, and the actual sale price of homes. The principal hypothesis that significant listing price concessions, usually the result of overpricing, can lead to real discounts on the final sale price is proven by our empirical results. We also found that the longer the time on the market, the higher the sale price, ceteris paribus. This finding is consistent with the theory that the longer a property remains on the market, the higher the probability is that a relatively superior selling price can be realized.

Optimal Control of Residential Energy Storage Under Price Fluctuations

Abstract: An increasing number of retail energy markets exhibit price fluctuations and provide home users the oppor- tunity to buy energy at lower than average prices. However, such cost savings are hard to realize in practice because they require human users to observe the price fluctuations and shi ft their electricity demand to low price periods. We propose to temporarily store energy of low price periods in a home battery and use it later to satisfy user demand when energy prices are high. This enables home users to save on their electricity bill by exploiting price variability without changing their consumption habits. We formulate the problem of minimizing the cost of energy storage purchases subject to both user demands and prices as a Markov Decision Process and show that the optimal policy has a threshold structure. We also use a numerical example to show that this policy can lead to significant cost savings, an d we offer various directions for future research. Index Terms—Battery storage, dynamic pricing, dynamic pro- gramming, energy storage, threshold policy.