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Supply Function Equilibria and Applications to Electricity Markets - Markus Hirn
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Supply Function Equilibria and Applications to Electricity Markets - neues Buch

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Markus Hirn,Paperback, English-language edition,Pub by VDM Verlag Dr. Mueller Akt.ges.&Co.KG Books Books ~~ Business & Economics~~ Economics ~~ General Supply-Function-Equilibria-and-Applications-to-Electricity-Markets~~Markus-Hirn VDM Verlag Dr. Mueller Akt.ges.&Co.KG There has been a long debate among economists whether it is more reasonable to think that firms choose prices as strategic variables or quantities. A firm may not want to commit to one of these simple types of strategies if uncertainty is introduced since there may be decisions which must possibly be made in advance and can not be made after the resolution of the uncertainty. The supply function, which is implicitly determined by these decisions, relates the quantity a firm will produce to the price the market will create. This book analyzes the behaviour of firms in a world of uncertainty on a basis of three famous contributions to the topic "supply functions". It is shown that choosing a supply function is superior to standard approaches since firms are able to react in a better way to changing market conditions compared to a situation where price or quantity is fixed, as stipulated by Bertrand or Cournot competition, respectively. The theoretical approaches of these supply function models are finally linked to applications to electricity markets. It is also analyzed if the concept of supply function equilibria is valid in reality.

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Supply Function Equilibria and Applications to Electricity Markets - Markus Hirn
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Markus Hirn:
Supply Function Equilibria and Applications to Electricity Markets - Taschenbuch

2011, ISBN: 363930974X

ID: 10407750560

[EAN: 9783639309744], Neubuch, [PU: Vdm Verlag Feb 2011], This item is printed on demand - Print on Demand Titel. - There has been a long debate among economists whether it is more reasonable to think that firms choose prices as strategic variables or quantities. A firm may not want to commit to one of these simple types of strategies if uncertainty is introduced since there may be decisions which must possibly be made in advance and can not be made after the resolution of the uncertainty. The supply function, which is implicitly determined by these decisions, relates the quantity a firm will produce to the price the market will create. This book analyzes the behaviour of firms in a world of uncertainty on a basis of three famous contributions to the topic 'supply functions'. It is shown that choosing a supply function is superior to standard approaches since firms are able to react in a better way to changing market conditions compared to a situation where price or quantity is fixed, as stipulated by Bertrand or Cournot competition, respectively. The theoretical approaches of these supply function models are finally linked to applications to electricity markets. It is also analyzed if the concept of supply function equilibria is valid in reality. 72 pp. Englisch

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Supply Function Equilibria and Applications to Electricity Markets - Hirn, Markus
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Hirn, Markus:
Supply Function Equilibria and Applications to Electricity Markets - Taschenbuch

2011, ISBN: 9783639309744

[ED: Softcover], [PU: Vdm Verlag Dr. Müller], There has been a long debate among economists whether it is more reasonable to think that firms choose prices as strategic variables or quantities. A firm may not want to commit to one of these simple types of strategies if uncertainty is introduced since there may be decisions which must possibly be made in advance and can not be made after the resolution of the uncertainty. The supply function, which is implicitly determined by these decisions, relates the quantity a firm will produce to the price the market will create. This book analyzes the behaviour of firms in a world of uncertainty on a basis of three famous contributions to the topic "supply functions". It is shown that choosing a supply function is superior to standard approaches since firms are able to react in a better way to changing market conditions compared to a situation where price or quantity is fixed, as stipulated by Bertrand or Cournot competition, respectively. The theoretical approaches of these supply function models are finally linked to applications to electricity markets. It is also analyzed if the concept of supply function equilibria is valid in reality.2011. 72 S.Versandfertig in 3-5 Tagen, [SC: 0.00]

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Supply Function Equilibria and Applications to Electricity Markets - Markus Hirn
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Markus Hirn:
Supply Function Equilibria and Applications to Electricity Markets - Taschenbuch

ISBN: 9783639309744

ID: 9783639309744

Supply Function Equilibria and Applications to Electricity Markets Supply-Function-Equilibria-and-Applications-to-Electricity-Markets~~Markus-Hirn Business>Economics & Finance>Economics & Finance Paperback, VDM Verlag Dr. Mueller Akt.ges.&Co.KG

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Supply Function Equilibria and Applications to Electricity Markets - Hirn, Markus
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Hirn, Markus:
Supply Function Equilibria and Applications to Electricity Markets - Taschenbuch

2011, ISBN: 363930974X

Gebundene Ausgabe, ID: 10302717

A theoretical approach to determine strategies when companies face uncertainty - Buch, gebundene Ausgabe, 72 S., Beilagen: Paperback, Erschienen: 2011 VDM Verlag, [PU: VDM Verlag Dr. Müller, Saarbrücken]

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Supply Function Equilibria and Applications to Electricity Markets

There has been a long debate among economists whether it is more reasonable to think that firms choose prices as strategic variables or quantities. A firm may not want to commit to one of these simple types of strategies if uncertainty is introduced since there may be decisions which must possibly be made in advance and can not be made after the resolution of the uncertainty. The supply function, which is implicitly determined by these decisions, relates the quantity a firm will produce to the price the market will create. This book analyzes the behaviour of firms in a world of uncertainty on a basis of three famous contributions to the topic "supply functions". It is shown that choosing a supply function is superior to standard approaches since firms are able to react in a better way to changing market conditions compared to a situation where price or quantity is fixed, as stipulated by Bertrand or Cournot competition, respectively. The theoretical approaches of these supply function models are finally linked to applications to electricity markets. It is also analyzed if the concept of supply function equilibria is valid in reality.

Detailangaben zum Buch - Supply Function Equilibria and Applications to Electricity Markets


EAN (ISBN-13): 9783639309744
ISBN (ISBN-10): 363930974X
Gebundene Ausgabe
Taschenbuch
Erscheinungsjahr: 2011
Herausgeber: VDM Verlag Dr. Mueller Akt.ges.&Co.KG

Buch in der Datenbank seit 12.12.2007 05:21:51
Buch zuletzt gefunden am 21.02.2016 13:07:32
ISBN/EAN: 9783639309744

ISBN - alternative Schreibweisen:
3-639-30974-X, 978-3-639-30974-4


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