Search results for "price"
showing 10 items of 428 documents
Wages, prices, and technology in early Catalan industrialization
2015
Catalonia was the only Mediterranean region among the early followers of the British industrial revolution. The roots of this process can be traced back to the seventeenth and eighteenth centuries when the Catalan economy became integrated into international trade, and a successful printed calico industry concentrated in the city of Barcelona. Although the factory system was largely adopted by the cotton industry in the 1840s, the diffusion of the spinning jenny in Catalonia had occurred earlier, in the 1790s. In line with Allen, this article explores whether relative factor prices played a role in the widespread adoption of the spinning jenny in Catalonia. First, series of real wages in Ba…
Wages and prices in early Catalan industrialisation
2014
Catalonia was the only Mediterranean region among the early followers of the British Industrial Revolution in the second third of the nineteenth century. The roots of this industrialisation process can be traced back to the seventeenth and eighteenth centuries when the Catalan economy became successfully integrated in international trade and the region enjoyed an intensification of its agrarian and proto-industrial activities. These capitalist developments were subsequently reinforced by a successful printed calico manufacturing business concentrated in the city of Barcelona. Although the factory system was largely adopted by the cotton industry in the 1840s, the diffusion of the spinning j…
Measuring the CO2 shadow price for wastewater treatment: A directional distance function approach
2015
Abstract The estimation of the value of carbon emissions has become a major research and policy topic since the establishment of the Kyoto Protocol. The shadow price of CO2 provides information about the marginal abatement cost of this pollutant. It is an essential element in guiding environmental policy issues, since the CO2 shadow price can be used when fixing carbon tax rates, in environmental cost-benefit analysis and in ascertaining an initial market price for a trading system. The water industry could play an important role in the reduction of greenhouse gas (GHG) emissions. This paper estimates the shadow price of CO2 for a sample of wastewater treatment plants (WWTPs), using a param…
Price Theory and US Antitrust: a Note on an Enduring Legal Doctrine
2013
Since the mid-1980s the post-Chicago approach to antitrust economics has produced a few game-theoretic models which have challenged many typical Chicago antitrust propositions. Yet, Chicago style antitrust has not yet lost its hold on u.s. antitrust. The paper suggests that the Chicago persistence within u.s. antitrust and, by the same token, the inhospitality of u.s. antitrust towards game-theoretical Industrial Organization theory owe much to the vitality of the legal doctrine according to which antitrust analysis should be consistent with traditional price theory. In particular, the paper analyzes two issues: i. the adoption of the equilibrium end-state notion of competition which is sti…
Taxonomic Identity, Geographic Distribution, and Commercial Exploitation of the Culinary-Medicinal Mushroom Pleurotus nebrodensis (Basidiomycetes)
2016
An updated overview of the outcome of studies conducted on the culinary-medicinal mushroom Pleurotus nebrodensis is presented by placing emphasis on the clarification of the taxonomic identity of P. nebrodensis and other related taxa possessing entirely white to cream basidiomes, which grow in association with different plants of the family Apiaceae. Cultivation techniques, quality of the product sold and sales price, as well as nutritional and medicinal aspects are discussed. Taking also into consideration the high economic importance of P. nebrodensis, it is essential to proceed with the verification of the commercial strains currently available in the international market under the name …
Producer's spatial equilibrium with a fuzzy constraint
1980
The classical theory of the producer’s equilibrium rests on two sets of particularly restrictive hypotheses. First it is implicitely assumed that all inputs and outputs are located in a single place where the producer is also implanted and where the production is carried out. Next it is assumed that the producer follows a precise behaviour pattern, by this we mean that the producer has complete information concerning the conditions of hisproductive activity and he has perfect command over both the set of inputs and the set of outputs; he realises the maximum profit allowed by the technological constraint which limits his possible actions and by the given price system. The aim of this study …
Intraday Price Dynamics between EUAs and CERs in the European Carbon Futures Market
2011
We provide the first intraday analysis on the contribution to price discovery of two emissions carbon credits: European Union Allowances (EUAs) and Certified Emission Reductions (CERs). We find that EUAs lead price discovery but CERs play a growing role and, therefore, should not be ignored.
Primary Commodity Prices: Co-movements, Common Factors and Fundamentals
2011
The behavior of commodities is critical for developing and developed countries alike. This paper contributes to the empirical evidence on the co-movement and determinants of commodity prices. Using nonstationary panel methods, we document a statistically significant degree of co-movement due to a common factor. Within a Factor Augmented VAR approach, real interest rate and uncertainty, as postulated by a simple asset pricing model, are both found to be negatively related to this common factor. This evidence is robust to the inclusion of demand and supply shocks, which both positively impact on the co-movement of commodity prices.
Price dispersion, competition, and the role of online travel agents: Evidence from business routes in the Italian airline market
2014
Abstract In this article, using data from the Italian airline market, we study the role of online travel agents (OTAs) in driving price dispersion as compared to the effect of airlines’ websites. Specifically, we investigate how distinctive factors between OTAs and airlines’ direct channels influence price dispersion. We find that after controlling for OTAs’ features related to airline competition, price dispersion should be lower in the OTA channel relative to airlines’ direct channels. On the other hand, we also find that OTAs’ features related to the presence of airline competition play in favor of higher price dispersion in such indirect channel.
Upward and Downward Limit Pricing: The Role of Post-Entry Competition
2005
Under asymmetric information, entry-deterring strategies by an incumbent monopolist can consist of deviations from its static monopoly price through downward deviations termed downward limit pricing, or upward deviations termed upward limit pricing. Our analysis shows that the mode of post-entry competition influences the range of situations in which an incumbent adopts a strategy of downward limit pricing instead of an upward one: this range is greater under price than under output competition; it is decreasing in the degree of product differentiation; and with homogeneous product only downward limit pricing emerges under price competition, while upward limit pricing can still take place w…