Markets and contracts
نویسندگان
چکیده
منابع مشابه
Markets and Contracts By
Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium that does not require an explicit modeling of private information. Sellers have discretion over deliveries on contracts; this is in common with economies with default, incomplete contracts or price rigidities. Competitive equilibria exist and anonymousmarkets are viable. But, fo...
متن کاملMarkets and contracts 1
Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium that does not require an explicit modeling of private information. Sellers have discretion over deliveries on contracts; this is in common with economies with default, incomplete contracts or price rigidities. Competitive, anonymous markets are viable. For a generic economy, the...
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Empirical studies of commercial relationships between firms reveal that (i) suppliers encounter situations in which they can gain in the short run by acting opportunistically—for example, delivering a lower quality than promised after being paid; and (ii) good conduct is sustained not exclusively by formal contracts but through informal relationships and the expectation of future business. In s...
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متن کاملAnalyzing Capacity Withholding in Oligopoly Electricity Markets Considering Forward Contracts and Demand Elasticity
In this paper capacity withholding in an oligopolistic electricity market that all Generation Companies (GenCos) bid in a Cournot model is analyzed and the capacity withheld index, the capacity distortion index and the price distortion index are obtained and formulated. Then a new index, Distortion-Withheld Index (DWI), is proposed in order to measure the potential ability of market for capacit...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2011
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2010.12.017