Spot contract

About: Spot contract is a research topic. Over the lifetime, 3437 publications have been published within this topic receiving 91599 citations.

The Impacts of Contract Type on Broker Performance

Abstract: This paper offers a theoretical and empirical analysis of the exclusive agency and exclusive-right-to-sell contracts used in real estate brokerage. The theoretical model predicts that while both contract types will yield the same price, the exclusive agency contract will result in faster sales than the exclusive-right-to-sell contract. In the empirical model, we find that houses sold faster under the exclusive agency contract than the exclusive-right-to-sell contract. However, houses sold with exclusive agency contracts also sold at a marginally lower price. We also find a slightly greater concession from the listing price at the negotiation stage of exclusive agency listings.

Stable modeling of different European power markets

Abstract: In this paper, we address the issue of modeling spot prices of different European power markets. With the German, Nordic and Polish power markets, we consider three markets at a very different stage of liberalization. After summarizing the stylized facts about spot electricity prices, we provide a comparison of the considered markets in terms of price behavior. We find that there are striking differences: while for the Nordic and German power exchange prices show heavy tails, spikes, high volatility and heteroscedasticity, returns of spot prices in the Polish market can be modeled adequately by the Gaussian distribution. We introduce the stable Paretian distribution to capture heavy tails, high kurtosis and asymmetries in electricity spot prices. We further provide ARMA/GARCH time series models with Gaussian and stable innovations for modeling the behavior of the different markets.

Determinants of official OPEC crude prices

Abstract: The hypothesis of this paper is that crude oil, like any other unfinished commodity, is valued for the products derived from it; the purpose is to offer an empirical explanation for changes in the crude price charged by the members of OPEC. The model results show that the market-clearing prices reported to prevail for petroleum products on the principal petroleum spot market at Rotterdam are the primary determinants of changes in official crude prices. A systematic relationship between offical and spot prices is argued to have prevailed since 1974. An appendix clarifies five types of data required for the model. 13 references, 4 tables.

Forecasting model for crude oil prices based on artificial neural networks

Abstract: This paper presents short-term forecasting model for crude oil prices based on three layer feedforward neural network. Careful attention was paid on finding the optimal network structure. Moreover, a number of features were tested as an inputs such as crude oil futures prices, dollar index, gold spot price, heating oil spot price and S&P 500 index. The results show that with adequate network design and appropriate selection of the training inputs, feedforward networks are capable of forecasting noisy time series with high accuracy.