Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we define an auxiliary variable that can potentially capture the definition of a price shock that allows ...

This study aims to estimate the function of copper consumption using the Johansen approach in time series data, between 1991-2011 in Iran. The literature review of specialized consumption and demand functions shows factors influencing the consumption of copper including copper price variables, aluminum price as a substitute commodity, oil price as a complementary commodity, and industrializatio...

Projects in the mining industry are undertaken with the objective of maximizing economic value, which is near-universally measured by the Net Present Value (NPV), considering all capital expenditure and operating cash flow. This industry is usually considered high risk because of historically volatile commodity prices (directly impacting revenues) and the fact that very large capital expenditur...

This paper studies the capacity investment decisions of an agri-processor that uses a commodity input to produce a commodity output and a byproduct. Using a multiperiod model, we study the one-time processing and (output) storage capacity investment decisions, and the periodic processing and inventory decisions in the presence of input and output spot price uncertainties and uncertain productio...

Future contracts in commodity market with limited maturities are primarily used for hedging commodity price-fluctuation risks or for taking advantage of price movements, rather than for the buying or selling of the actual cash commodity. This paper is an effort to analyze the market efficiency of the Indian commodity market and volatility spillover effects between the spot and future market wit...

We study market games with multiple posts per commodity. We provide some facts that characterize prices of commodities across posts and show the following results: (i) As the number of agents increases, the price variability across posts for a commodity becomes smaller and it becomes zero when the number of agents becomes infinite, irrespectively of the distribution of characteristics in the ec...

water shortage crisis is an issue that has led to drastic changes in different agricultural policies, especially in arid and semi-arid areas. uncertainty in the amount of resources, e.g. water, used for agricultural production entails risk for farmers' income and cropping pattern changes. in the present study, the robust optimization model was used for optimal allocation of arable lands of khor...

This paper presents a new bidding strategy for continuous double auctions (CDA) designed for Mertacor, a successful trading agent, which won the first price in the “travel game” of Trading Agent Competition (TAC) for 2005. TAC provides a realistic benchmarking environment in which various travel commodities are offered in simultaneous online auctions. Among these, entertainment tickets are trad...