This paper provides an empirical analysis of the long-run market shares of four ENERGY STAR (ES) appliances in the United States: refrigerators, dishwashers, clothes washers, and room air conditioners. We relate state-level market shares to electricity prices, demographics, and energy efficiency. We then use the results to estimate how a carbon pricing mechanism might influence the market share...

in this paper, a novel hybrid model based on neural network and game theory is proposed to support the analyzers in oil market. in this model, first the neural network is utilized to learn the oil prices associated with opec production level and usa imports level. then the learned neural network is applied by a game model. finally the nash equilibrium points of the game present the optimum deci...

ABSTRACT The Internet has transformed the nature of business-to-consumer transaction-making practices in many industries. Sellers now attract customers with innovative Internet-based selling mechanisms that can reveal or conceal market information. We define market transparency as the availability and accessibility of information about products and prices. Firms can influence market transparenc...

An important feature of bond markets is the relationship between initial public offering prices and the probability of the issuer defaulting. First, this probability affects bond prices. Second, IPO prices determine the default probability. Though the market equilibrium has been shown to predict well for other assets, it is a priori unclear whether markets will yield competitive prices when suc...

We study a model where some agents have private information about risky asset returns and trade to obtain capital gains, while others acquire the risky asset and hold it to maturity, forming expectations of returns based on market prices. We show that under such a structure, in addition to fully revealing rational expectations equilibria, there exists a continuum of equilibrium prices consisten...

This paper presents a novel encoderdecoder model for automatically generating market comments from stock prices. The model first encodes both shortand long-term series of stock prices so that it can mention shortand long-term changes in stock prices. In the decoding phase, our model can also generate a numerical value by selecting an appropriate arithmetic operation such as subtraction or round...

This paper studies the formation of stock prices for British, German and French stocks, simultaneously traded in London and Frankfurt or Paris. We analyze theoretically the case where investors and traders based in the same country as the ̄rm have better information on its value than foreign traders. Our model implies that prices set on the domestic market should be informationally more e±cient...

The reform to convert non-floating shares to floating in China provides a setting in which shares are subject to different liquidity constraint. We show that the severity of this constraint is inversely related to the extent to which earnings information is reflected in the share prices. Specifically, before the reform, the transfer prices of non-floating shares reflect much less earnings infor...

The price adjustment mechanism is accounted for by market forces, in that –leaving aside speculative movements in financial markets, which in specific cases can be the cause of price volatilitythe market adjusts itself in periods of strong demand and rising prices through an increase in the offer, e.g. by opening up closed mines, by extending the life span of mines scheduled to be shut down, et...

Competition is an increasingly important theme in telecommunications policy. It has been credited with expanding services, lowering prices, and stimulating innovation. (Jamison et al. 2009) But competition can raise difficult challenges for telecommunications policy makers and regulators. One of these challenges is determining the optimal mix of market and regulatory involvement in determinatio...