Six hens pecked a key (Experiment 1) or pushed a door (Experiment 2) to obtain food reinforcement. In both experiments and as an analogue of price changes, the response requirements were varied in two ways: by increasing the number of responses required and by increasing the required force of each response. The two price manipulations (response number and response force) had different effects o...

This study predicts the stock price of Petkim Petrokimya Holding Corp. (PETKM), which is listed in Borsa Istanbul (BIST), using PETKM price, US dollar (USD/TRY) and BIST Chemical, Petroleum & Plastic (XKMYA) index price. A time series data set with three inputs one output created these data. Random Forest Regression (RFR), Long-Short Term Memory (LSTM), Convolutional Neural Network (CNN) al...

In this paper the relationships between crude oil and refined product prices are investigated in a multivariate framework. This allows us to test several (partly competing) assumptions of earlier studies. In particular, we find that the crude oil price is weakly exogenous and that the spread is constant in some but not all relationships. Moreover, the multivariate analysis shows that the link b...

A petroleum fiscal system comprises the taxes, royalties, and similar terms in the lease or contract to explore for or produce oil and gas. A government, as seller of the rights, enacts its distinctive petroleum laws that provide for these terms, determining an offer price. Globally, a large variety of terms are in use, and the fiscal system can provide for an auction that determines the value ...

The valuation of the real option to store liquefied natural gas (LNG) at the downstream terminal of an LNG value chain is an important problem in practice. As the exact valuation of this real option is computationally intractable, we develop a novel and tractable heuristic model for its strategic valuation that integrates models of LNG shipping, natural gas price evolution, and inventory contro...

The 1990s have been a decade of upheaval in international financial markets. Much of the responsibility for financial instability has been placed on speculators, particularly hedge funds. Speculative capital has been characterized as “hot money,” with capital flows driven by “herding” and “contagion” among players in foreign-exchange, stock, bond, and commodity markets. Policies to deal with fi...

The valuation of the real option to store liquefied natural gas (LNG) at the downstream terminal of an LNG value chain is an important problem in practice. As the exact valuation of this real option is computationally intractable, we develop a novel and tractable heuristic model for its strategic valuation that integrates models of LNG shipping, natural gas price evolution, and inventory contro...