This paper presents an existence theorem in a general equilibrium model of a production economy with commodity differentiation and indivisibilities. The model is motivated by the existence of markets with indivisible commodities, such as the markets for automobiles and computers. As is standard in the literature, the space of commodity characteristics is described by a compact metric space and ...

Unlike derivatives of financial contracts, commodity options exhibit distinct particularities owing to physical aspects of the underlying. An adaptation of no-arbitrage pricing to this kind of derivative turns out to be a stress test, challenging the martingale-based models with diverse technical and technological constraints, with storability and short selling restrictions, and sometimes with ...

Recent Grid projects, such as the Globus Project, provide a set of useful services such as authentication and remote access to resources, and information services to discover and query such remote resources. Unfortunately, these services may not be compatible with the commodity technologies used for application development by the software engineers and scientists. Instead, users may prefer acce...

We investigate the determinants of aggregate commodity returns and establish the following findings. (1) Common predictors of bond and stock returns, such as the short rate and the yield spread, also predict commodity returns. A high yield spread predicts low commodity returns, consistent with commodities being a hedge for market fluctuations. (2) Even controlling for these common predictors, a...

There has been little evidence to support the use of commodity-currency cross-hedges (Demaskey and Pearce, 1998; Benet, 1990; Eaker and Grant, 1987). However, this paper shows that if currencies can be defined as commodity currencies, as per Chen and Rogoff (2003) and Cashin, spedes and Sahay (2002), commoditycurrency cross-hedges are effective and beneficial. Two commodity currencies, the Papu...

This paper is concerned with the problem of mining commodity information from threaded Chinese customer reviews. Chinese online commodity forums, which are developing rapidly, provide a good environment for customers to share reviews. However, due to noises and navigational limitations, it is hard to have a clear view of a commodity from thousands of related reviews. Further more, due to differ...

One of the particular problems facing agribusiness firms is the relationship between commodity price risk (a source of business risk) and debt repayment ability (a source of financial risk). This study examines the use of commodity-linked loans applied to agricultural credits. A commodity-linked loan is a credit instrument whose payoff is contingent on the value of an underlying commodity or po...

This article links key findings from two major research literatures within contemporary development and globalization studies: global commodity/value chains, and world income inequalities. Forging this missing link exposes what I call the “upgrading paradox” within commodity and value chain analysis. The paradox hinges on the disconnect between the global commodity/value chain literature’s focu...