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Prices in experimental asset markets under uncertainty
New Zealand Economic Papers, 2009This paper presents an experiment which investigates whether asset prices are affected in markets where state probabilities are not exactly known and traders have to form subjective probabilities of payoffs. Results show that the presence of vague probabilities leads to higher average prices with respect to assets characterised by known probabilities ...
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Optimal Monopolist Pricing Under Demand Uncertainty in Dynamic Markets
Management Science, 1995We examine pricing policy for a monopolist facing uncertain demand in a market characterized by dynamics on the demand side (such as diffusion or saturation effects) and/or on the cost side (experience curve effects). Our model explicitly incorporates the impact of demand uncertainty, and thus allows us to analyze the implications of uncertainty on ...
Kalyan Raman, Rabikar Chatterjee
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Volatility: The Market Price of Uncertainty
CFA Institute Conference Proceedings Quarterly, 2014Today’s securities markets are pricing in yesterday’s crash, the known unknown, rather than tomorrow’s unknown unknown. To understand volatility as an asset class is to value the forward expectation of uncertainty, which is as much a function of human psychology as it is an expression of mathematics.
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The Trading Decision and Market Clearing Under Transaction Price Uncertainty
The Journal of Finance, 1985ABSTRACTThis paper models an individual's trading decision, given: (1) his/her demand function to hold shares of an asset, (2) his/her expectation on what the market clearing price will be, and (3) the design of the market which determines how orders will be translated into trades.
Ho, Thomas S Y +2 more
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Pricing in Market Uncertainties
2013The marketing environment for a competitive environment is a combination of factors that are used for pursuing marketing objectives in the identified markets for achieving targets. These factors have to be strategically mixed in the marketing planning for offering quality services and optimizing customer value.
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Pricing Conflict: Legal Regimes, Uncertainty, and Price in Medical Marijuana Markets
Academy of Management Proceedings, 2017How do sellers set prices in legally contested markets, which are rife with uncertainty engendered by conflicting legal regimes created by different levels of the federalist state?
Cyrus Dioun, Heather Haveman
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Market structure implications of export‐price uncertainty
Managerial and Decision Economics, 1987AbstractThis paper considers the profit‐seeking firm that has the opportunity to export, as a price taker, to an uncertain rest‐of‐the‐world market. When that firm competes domestically as an oligopolist the competitive export option can impact on both the firm and its domestic competitiors.
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Scenario based uncertainty modeling of electricity market prices
2017 6th International Conference on Computer Applications In Electrical Engineering-Recent Advances (CERA), 2017Energy trading in liberalized electricity markets is a decision-making problem that is modeled considering price uncertainty. Stochastic programming is a natural platform for modeling such decision-making problems, where uncertainties are characterized through scenarios.
Kailash Chand Sharma +3 more
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Price Uncertainty Within the Grain Export Marketing Channel
1991Results of a survey conducted by the USDA (Caron) indicate that the largest "exporting" risk perceived by U.S. grain merchandisers is caused by changes in the flat price of grain. The largest logistical" risk was associated with ocean charters. The objectives of the present study are to (1) measure these perceived risks in terms of price uncertainty ...
Hauser, R. J. +3 more
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PRICING IN THE CUSTOMER-MARKET MODEL WITH UNCERTAINTY*
The Manchester School, 2005The common interpretation of the customer-market model of Phelps and Winter (in Phelps et al. (eds), Microeconomic Foundations of Employment and Inflation Theory, New York, Norton, 1970) is that firms will charge a price lower than the static monopoly mark-up because monopolistic pricing policy is moderated by the potential effect of high prices on ...
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