In this paper the problem of modeling electricity price dynamics in deregulated energy markets is studied. Since the nature of customers' energy consumption, market participants' strategic behavior and the power system reliability indices are stochastic processes, the electricity price model will be stochastic as well. In our analysis the price of electricity is modeled based on the customers' ...

the presence of bubbles in the markets and its formation has been regarded by economists and they have been looking to develop methods that can be recognized by using appropriate method for the formation of bubbles. in this paper, first, the formation of bubbles is tested using the new unit root test known as phillips test (generalized sup adf test) for 50 companies in the tehran stock exchange...

the effects of cutting subsidy on broiler production in kerman province were investigated after privitization. in this regard a random sample of 32 poultry farms in kerman were chosen and the farmers were interviewed. the unit- output - price profit function model was used to determine the supply and demand elasticity of broider products. the results show that the profit of poultry farms increa...

Nowadays, demand response programs (DRPs) play an important role in price reduction and reliability improvement. In this paper, an optimal integrated model for the emergency demand response program (EDRP) and dynamic economic emission dispatch (DEED) problem has been developed. Customer’s behavior is modeled based on the price elasticity matrix (PEM) by which the level of DRP is determined for ...

This paper estimates a dynamic model of the world markets for five nonrenewable resources over the period 1970-2004 and tests for market power in each of these markets. In particular, for each nonrenewable resource, we test whether the countries supplying the nonrenewable resource behaved as price-takers or oligopolists. The results show that during the study period the world markets for copper...

An elasticity summarizes a large amount of information in a single number. Levels and distribution of incomes, price levels of the specific good and of substitute and complementary goods, preferences and tastes, transaction costs, etc., can, ceteris paribus, affect the measured value of any particular demand-price elasticity. The elasticity concept normalizes for the measurement scales (e.g., p...