Elasticity of demand for relative petroleum inventory in the short run

2003 ◽  
Vol 31 (1) ◽  
pp. 87-102 ◽  
Author(s):  
Michael Ye ◽  
John Zyren ◽  
Joanne Shore
Keyword(s):  
Elasticity Of Demand ◽  
Short Run ◽  
Petroleum Inventory

scholarly journals Braucht Deutschland einen Kapazitätsmarkt für eine sichere Stromversorgung?

2013 ◽  
Vol 62 (3) ◽  
Author(s):  
Justus Haucap
Keyword(s):  
Electricity Market ◽  
Market Failure ◽  
Low Cost ◽  
Dominant Firm ◽  
Elasticity Of Demand ◽  
Capacity Market ◽  
Dominant Firms ◽  
Short Run ◽  
Wholesale Electricity Market ◽  
Strategic Reserve

AbstractThis paper argues against the rapid implementation of capacity mechanisms in Germany. There is no systematic, non-temporary market failure in the German wholesale electricity market which could justify such a Government intervention. Neither the low elasticity of demand nor debatable public good characteristics nor the potentially missing acceptance of price spikes can support the idea of that the energy only market may fail to guarantee reliability of supply. In addition, there are currently no resilient signs of any shortage of supply. In contrast, the German wholesale electricity market is still characterized by over-capacities. The worldwide experience with capacity mechanisms also demonstrates most of all that no capacity market design is ever stable, but subject to change in often quite short intervals. Potential low-cost options to safeguard security of supply include a strategic reserve against generation failures. In addition, the Federal Cartel Office should correct its position that dominant firms must not offer electricity at a price above the short-run marginal cost. Such a prescription forecloses the market and chokes off investment and would in most other cases be regarded as an anticompetitive foreclosure strategy of a dominant firm.

scholarly journals Processor Demand and Price-Markup Functions for Catfish: A Disaggregated Analysis with Implications for the Off-Flavor Problem

1988 ◽  
Vol 20 (2) ◽  
pp. 81-92 ◽  
Author(s):  
Henry Kinnucan ◽  
Scott Sindelar ◽  
David Wineholt ◽  
Upton Hatch
Keyword(s):  
Processing Plant ◽  
Elastic Demand ◽  
Welfare Gains ◽  
Farm Level ◽  
Elasticity Of Demand ◽  
Economic Justification ◽  
Inelastic Demand ◽  
Flavor Problem ◽  
Short Run ◽  
Plant Data

AbstractOff-flavor in catfish restricts farm marketings 10 to 45% depending on the season. The economic impact on society of this imposed supply restriction depends, in part, on the elasticity of demand for catfish. Econometric estimates based on disaggregated processing plant data indicate an elastic demand at the processor level but an inelastic demand at the farm level. Short-run social welfare gains from the elimination of off-flavor are estimated to equal 12.0% of farm revenues ($10.0 million in 1983). The inelastic demand for catfish at the farm level, however, means that most of the societal gains will accrue to individuals beyond the farm gate. Thus, an economic justification exists for public sector funding of off-flavor research.

scholarly journals Economies of Size in Processing Manufactured Dairy Products and Implications for the Southern Dairy Industry

1976 ◽  
Vol 8 (2) ◽  
pp. 103-107
Author(s):  
M. C. Conner ◽  
W. T. Boehm ◽  
T. A. Pardue
Keyword(s):  
Dairy Products ◽  
Raw Milk ◽  
Price Stability ◽  
Elasticity Of Demand ◽  
Reasonable Degree ◽  
Economies Of Size ◽  
Short Run ◽  
Producer Prices ◽  
Milk Marketing ◽  
Fluid Milk

Fluid milk marketing is characterized by daily and seasonally fluctuating raw milk production, variable fluid processing schedules and seasonally fluctuating consumption patterns. These conditions, plus the perishable nature of the product and a relatively low short-run elasticity of demand for fluid milk, are generally considered to be factors requiring volume of Grade A milk available to an area at any given time to exceed the amount actually consumed in the fluid form—if the market is to be characterized by a reasonable degree of price stability. This excess is often referred to as the minimum or “necessary” reserve. The volume of excess milk available may be greater than this minimum, however, as a result of other factors such as classified pricing or producer prices above equilibrium levels.

Short-run elasticity of relative demand for petroleum inventory

2003 ◽  
Vol 9 (1) ◽  
pp. 87-87
Author(s):  
Michael Ye ◽  
John Zyren ◽  
Joanne Shore
Keyword(s):  
Relative Demand ◽  
Short Run ◽  
Petroleum Inventory

scholarly journals An Assessment of Energy Consumption and Price Responsiveness: Evidence from Dominican Republic

2015 ◽  
Vol 1 (6) ◽  
pp. 81-87 ◽  
Author(s):  
Jose Antonio Hernandez ◽  
Camilo Koch
Keyword(s):  
Dominican Republic ◽  
Latin American ◽  
Price Volatility ◽  
Electricity Sector ◽  
Linear Regression Method ◽  
Elasticity Of Demand ◽  
Long Run ◽  
Support Price ◽  
Short Run ◽  
Log Linear

Electricity has a high impact in the activities and sectors of any economy. A considerable amount of studies relates the importance of electricity to economic growth of nations. Dominican Republic, though, has been in a process of energy reform, has not yet developed a stable electric delivering. This study is firstly conducted to ensure an overview of the electricity sector of Dominican Republic, describing the energy mix, national electricity situation, and main concerns on the sector reform that have been in process including other Latin American countries. Secondly, the paper aims to determine the elasticity of demand on energy generation sector through log linear regression method; analyzing the variation of price and quantity of demand interaction. Related researches concerning elasticity of demand in other countries such as Australia, Israel, China and United States, shows close similarity to our result, where elasticity tends to be inelastic (0.57) but not perfectly inelastic to variation on price. While the energy market structures by sectors may be complex, customers’ response to pricing signals can promote efficient investment in the long-run term, help mitigate short-run market power by generators and transmission owners, reduce price spikes, low price volatility, and consequently support price mechanism.

scholarly journals TRADE, LUXURY GOODS, AND A GROWTH-ENHANCING TARIFF

2017 ◽  
Vol 22 (6) ◽  
pp. 1462-1474
Author(s):  
Leonid V. Azarnert
Keyword(s):  
Developing Economies ◽  
Learning By Doing ◽  
Higher Learning ◽  
Growth Potential ◽  
Learning Potential ◽  
Luxury Goods ◽  
Elasticity Of Demand ◽  
Long Run ◽  
Negative Effect ◽  
Short Run

This article presents a Ricardian model of trade with learning-by-doing to study the effect of barriers to trade in products with low growth potential on the long-run economic growth. The model shows that, when elasticity of demand for the product with a lower learning potential is greater than unity, a tariff imposed on this product can shift the demand toward the product with a higher learning potential, thus enhancing growth in the exporter economy. Therefore, although with some possible negative effect on the welfare in the short run, barriers for the export of natural luxury goods may be beneficial for developing economies in the long run, since they increase their incentive to develop sectors with higher growth potential.

scholarly journals Demand Elasticities for Mobile Telecommunications in Austria

2008 ◽  
Vol 228 (1) ◽  
Author(s):  
Ralf Dewenter ◽  
Justus Haucap
Keyword(s):  
Dynamic Panel Data ◽  
Demand Elasticity ◽  
Mobile Telecommunications ◽  
Elasticity Of Demand ◽  
Demand Elasticities ◽  
Long Run ◽  
Short Run ◽  
Telecommunications Services ◽  
Using Data ◽  
Business Customers

SummaryThis paper analyses price elasticities in the Austrian market for mobile telecommunications services using data on firm specific tariffs in the period between January 1998 and March 2002. As a novelty compared to existing studies dynamic panel data regressions are used to estimate short-run and long-run demand elasticities for business customers and for private consumers with both postpaid contracts and prepaid cards.We find that business customers have a higher elasticity of demand than private consumers, where postpaid customers tend to have a higher demand elasticity than prepaid customers. Also demand is as expected more elastic in the long run. In addition, the paper also provides estimates for firm-specific demand elasticities which range from -0.47 to -1.1.

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