Measuring Market Power and Efficiency Over Time
| Author | : Constantine A. Bourlakis |
| Publisher | : |
| Total Pages | : 29 |
| Release | : 1992 |
| Genre | : Economics |
| ISBN | : |
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Measuring Market Power And Efficiency Over Time
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Measuring Market Power and Cost-efficiency Effects of Industrial Concentration
| Author | : Azzeddine M. Azzam |
| Publisher | : |
| Total Pages | : 10 |
| Release | : 1998 |
| Genre | : Beef industry |
| ISBN | : |
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Power Grid Operation in a Market Environment
| Author | : Hong Chen |
| Publisher | : John Wiley & Sons |
| Total Pages | : 288 |
| Release | : 2016-09-23 |
| Genre | : Science |
| ISBN | : 1119082803 |
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Covers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation This book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of the grid in energy markets. System volatility and economic impact introduced by the intermittency of wind and solar generation are also addressed. The third part focuses on stochastic applications, exploring new approaches of handling uncertainty in Security Constrained Unit Commitment (SCUC) as well as the reserves needed for power system operation. The fourth part provides ongoing efforts of utilizing transmission facilities to improve market efficiency, via transmission topology control, transmission switching, transmission outage scheduling, and advanced transmission technologies. Besides the state-of-the-art review and discussion on the domain of balancing economic efficiency and operation risk mitigation, this book: Describes a new approach for mass market demand response management, and introduces new criteria to improve system performance with large scale variable generation additions Reviews mathematic models and solution methods of SCUC to help address challenges posed by increased operational uncertainties with high-penetration of renewable resources Presents a planning framework to account for the value of operational flexibility in transmission planning and to provide market mechanism for risk sharing Power Grid Operations in a Market Environment: Economic Efficiency and Risk Mitigation is a timely reference for power engineers and researchers, electricity market traders and analysts, and market designers.
Market Power, Economic Efficiency And The Lerner Index
| Author | : Rolf Fare |
| Publisher | : World Scientific |
| Total Pages | : 149 |
| Release | : 2024-03-14 |
| Genre | : Business & Economics |
| ISBN | : 9811285942 |
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The book uses distance functions, a generalization of the more familiar production function, as the theoretical and empirical tools to construct Lerner indexes of market power in both the input and output markets. The use of distance functions enables us to explicitly account for the effects of firm inefficiency and price markups in the evaluation of market power. The book focusses on the theory and provides a menu of applications to construct measures of firm efficiency and market power in the financial and public sectors.
Adaptive Markets
| Author | : Andrew W. Lo |
| Publisher | : Princeton University Press |
| Total Pages | : 503 |
| Release | : 2019-05-14 |
| Genre | : Business & Economics |
| ISBN | : 069119680X |
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A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist—the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.
A Critical Evaluation of the Chicago School of Antitrust Analysis
| Author | : I. Schmidt |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 145 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 9400925670 |
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The publication of this clinically analytical and trenchantly insightful volume is felicitously timed. By fortuitous coincidence, it comes at a time when the Chicago School enjoys a high-water mark of acceptance in U.S. legal circles, and at a time when the U.S. merger movement of the 1980s is cresting. It provides a welcome warning against the dangers of translating abstract theories, based on highly restrictive (and unrealistic) assumptions, into facile public policy recommendations. As such the Schmidt/Rittaler study serves as a needed antidote to the currently fashionable predilection to confuse ideology with science. In the Chicago lexicon, the only appropriate policy toward business is a policy of untrammeled laissez-faire. Because there are no market imperfec tions (other than government-created or trade-union-generated monopolies), the market can be trusted to regulate economic activity, inexorably meting out appropriate rewards and punishments. In this ideal world, corporate size and power can be safely ignored. After all, corporations become big only only because they are efficient, only because they are productive, only because they have served consumers better than their rivals, and only because no newcomers are good enough to challenge their dominance. Once an industrial giant becomes lethargic and no longer bestows its productive beneficence on society, it will inevitably wither and eventually die. This is the "natural law" that governs economic life. It demands obedience to its rules. It tolerates no interference by the state.
The New Palgrave Dictionary of Economics
| Author | : |
| Publisher | : Springer |
| Total Pages | : 7493 |
| Release | : 2016-05-18 |
| Genre | : Law |
| ISBN | : 1349588024 |
Download The New Palgrave Dictionary of Economics Book in PDF, Epub and Kindle
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
A New Measure of Competition in the Financial Industry
| Author | : Jacob Bikker |
| Publisher | : Routledge |
| Total Pages | : 229 |
| Release | : 2014-08-27 |
| Genre | : Business & Economics |
| ISBN | : 1136013121 |
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The 2008 credit crisis started with the failure of one large bank: Lehman Brothers. Since then the focus of both politicians and regulators has been on stabilising the economy and preventing future financial instability. At this juncture, we are at the last stage of future-proofing the financial sector by raising capital requirements and tightening financial regulation. Now the policy agenda needs to concentrate on transforming the banking sector into an engine for growth. Reviving competition in the banking sector after the state interventions of the past years is a key step in this process. This book introduces and explains a relatively new concept in competition measurement: the performance-conduct-structure (PCS) indicator. The key idea behind this measure is that a firm’s efficiency is more highly rewarded in terms of market share and profit, the stronger competitive pressure is. The book begins by explaining the financial market’s fundamental obstacles to competition presenting a brief survey of the complex relationship between financial stability and competition. The theoretical contributions of Hay and Liu and Boone provide the theoretical underpinning for the PCS indicator, while its application to banking and insurance illustrates its empirical qualities. Finally, this book presents a systematic comparison between the results of this approach and (all) existing methods as applied to 46 countries, over the same sample period. This book presents a comprehensive overview of the knowns and unknowns of financial sector competition for commercial and central bankers, policy-makers, supervisors and academics alike.
Measuring Construction
| Author | : Rick Best |
| Publisher | : Routledge |
| Total Pages | : 269 |
| Release | : 2015-04-17 |
| Genre | : Technology & Engineering |
| ISBN | : 1134687281 |
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Despite the size, complexity and importance of the construction industry, there has been little study to date which focuses on the challenge of drawing reliable conclusions from the available data. The accuracy of industry reports has an impact on government policy, the direction and outcomes of research and the practices of construction firms, so confusion in this area can have far reaching consequences. In response to this, Measuring Construction looks at fundamental economic theories and concepts with respect to the construction industry, and explains their merits and shortcomings, sometimes by looking at real life examples. Drawing on current research the contributors tackle: industry performance productivity measurement construction in national accounts comparing international construction costs and prices comparing international productivity The scope of the book is international, using data and publications from four continents, and tackling head on the difficulties arising from measuring construction. By addressing problems that arise everywhere from individual project documentation, right up to national industrial accounts, this much-needed book can have an impact at every level of the industry. It is essential reading for postgraduate construction students and researchers, students of industrial economics, construction economists and policy-makers.
Agricultural Policy Analysis
| Author | : Jeevika Weerahewa |
| Publisher | : Springer Nature |
| Total Pages | : 492 |
| Release | : 2022-04-09 |
| Genre | : Technology & Engineering |
| ISBN | : 9811632847 |
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This book is centred around various interwoven topics which are fundamental to policy analysis in agriculture. Key concepts and tools that are fundamental for the analysis of agricultural policies and programmes are presented. Key concepts introduced include, the role of the state in a market economy with examples from the Sri Lankan and other developing economies, the international trade environment, and conceptual frameworks for analysing important domestic and international trade policies. It also highlights interconnections among agriculture, development, policy and illustrates the extent to which the agricultural sector contributes in achieving economic growth objectives, equity and equality objectives and environmental objectives. The book takes the readers through the nature of agricultural markets in developing countries, with special emphasis on Sri Lanka, and illustrates how the degree of competitiveness is measured at various market levels using multiple indices and methods. Several tools, with accompanying case studies, for the analysis of policies and programmes are detailed. These tools include the GTAP model, gravity models, extended benefit cost analysis, and linear programming. Tools and models are applied to the analysis of trade policies and agreements, marketing policies, environmental services, extension programmes, land tenure reforms and climate change adaptations. Case studies in relation to the agri-food policy and strategy response to COVID-19 Pandemic are also covered. This book is of interest to public officials working in agricultural planning and agricultural policy, teachers, researchers, agro-economists, capacity builders and policymakers. Also the book serves as additional reading material for undergraduate and graduate students of agriculture, development studies, and environmental sciences. National and international agricultural scientists, policy makers will also find this to be a useful read.
