ON SPECULATION AND PRICE STABILITY UNDER UNCERTAINTY.
In prior studies that use mathematical models to investigate the impact of speculative activity on commodity prices, it is assumed that speculators know both current and future nonspeculative excess demand functions. In this paper the analytical framework provided by Telser, Kemp, Farrell, and Schim...
| Publicado en: | Review of Economics & Statistics Vol. 63; no. 1; pp. 129 - 133 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
MIT Press
Feb81
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4645889&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4645889 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Feb81 vid: 63 iid: 1 pid: 776 pub: MIT Press artinfo: ui: 4645889 10.2307/1924226 ppf: 129 ppct: 4 formats: tig: atl: ON SPECULATION AND PRICE STABILITY UNDER UNCERTAINTY. aug: au: Jesse Jr., Richard R. Radcliffe, Robert C. affil: Auburn University. University of Florida. su: Speculation Uncertainty Price maintenance Prices Commodity exchanges Mathematical models Demand function Economic demand Mathematical functions sug: subj: Speculation Uncertainty Price maintenance Prices Commodity exchanges Mathematical models Demand function Economic demand Mathematical functions ab: In prior studies that use mathematical models to investigate the impact of speculative activity on commodity prices, it is assumed that speculators know both current and future nonspeculative excess demand functions. In this paper the analytical framework provided by Telser, Kemp, Farrell, and Schimmier has been extended in order to introduce uncertain future nonspeculative excess demand. A comparison of our results with those of Telser, Kemp, Farrell, and Schimmier reveals that, assuming linearity of the nonspeculators' excess demand curve, the results obtained in the prior studies continue to hold when the speculators are no longer assumed to know the nonspeculators' future excess demand function. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1981 holdings: @attributes: islocal: N |
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