Differential efficiency, market structure and price

Differential Efficiency, Market Structure, and Price

A persistent question in industrial economics is the underpinning of the link between market concentration and price. How much of the link can be attributed to market power and how much to market efficiency? This paper develops a theoretical model to address that question. Applied to the US portland cement industry, the model indicates that both impacts matter. In relative terms, however, the m...

Market Structure and Price Adjustment in the Iranian Tea Market

market structure and price adjustment in the iranian tea market

Identifying Market Price Levels Using Differential Evolution

Evolutionary data mining is used in this paper to investigate the concept of support and resistance levels in financial markets. Specifically, Differential Evolution is used to learn support/resistance levels from price data. The presence of these levels is then tested in out-ofsample data. Our results from a set of experiments covering five years worth of daily data across nine different US ma...

The effects of intelligence on price discovery and market efficiency

The influence of speculation on market performance has long been discussed. Under the framework of bounded rationality inwhich traders are endowedwith different intelligence levels in terms of different learning styles or different representations of intelligence, we examine the effects of traders’ intelligence on price discovery based on “intraday” data, and market efficiency. We find that int...