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In the wine AOC system, the regulation of quantities performed by the
professional
organizations is aimed to smooth the variations of the quality of the
wine due to the
variations in the climate that affect the quality of the grapes.
Nevertheless, this regulation
could be damaging to the consumers due to the price increase resulting
from the reduction of
the quantities sold on the market. We propose a stochastic control
model and a simulation tool
able to measure the effects of this mechanism...
The purpose of this paper is to present an alternative proof of the existence of the Walrasian equilibrium for the Arrow-Debreu-McKenzie model by the variational inequality technique. Moreover, examples of the generalized Arrow-Debreu-McKenzie model are given in which the price vector can reach the boundary of the orthant allowing a commodity to be of price zero at equilibrium. In such a case its supply exceeds demand. It is worth mentioning that utility functions in this model are allowed not to...
Les hypothèses de différentiabilité jouent un rôle essentiel dans plusieurs travaux récents consacrés à l'étude des propriétés de l'équilibre économique. Cet article présente une synthèse aussi élémentaire que possible d'une partie de ces travaux et fait aussi le lien avec la théorie des catastrophes de Thom.
En este trabajo se definen algoritmos, basados en funciones generatrices, para calcular el índice de poder de Banzhaf en juegos simples de votación ponderada y en juegos de doble y triple mayoría. La utilización de funciones generatrices permite un cálculo exacto del índice de Banzhaf con una reducción sensible de la complejidad temporal. Además se calculan los índices de Banzhaf para las reglas de decisión, aprobadas en la cumbre de Niza, que se utilizarán en la Unión Europea ampliada a 27 países....
This paper analyzes a model of formation of connected coalitions in a cooperative game. This model is a communication situation, and the Shapley value of this graph-restricted game is the Myerson value. The potential function for cooperative games was defined by Hart and Mas-Colell, and Winter showed that the Myerson value admits a potential function. We study a recursive procedure for computing the potential of the Myerson value. In section 3, we use the Myerson value for measuring voting power...
Los costes fijos y variables de un elemento productivo dependen de la política de renovación del elemento y de la intensidad de utilización del mismo. En el artículo se estudia esta dependencia y se establecen expresiones para el cálculo del coste fijo y de una parte del coste variable.
In many markets, especially in energy markets, electricity markets for instance, the detention of the physical asset is quite difficult. This is also the case for crude oil as treated by Davis (2000). So one can identify a good proxy which is an asset (financial or physical) (one)whose the spot price is significantly correlated with the spot price of the underlying (e.g. electicity or crude oil). Generally, the market could become incomplete. We explicit exact hedging strategies for exponential...
We employ a natural method from the perspective of the optimal stopping theory to analyze entry-exit decisions with implementation delay of a project, and provide closed expressions for optimal entry decision times, optimal exit decision times, and the maximal expected present value of the project. The results in conventional research were obtained under the restriction that the sum of the entry cost and exit cost is nonnegative. In practice, we may meet cases when this sum is negative, so it is...
MSC 2010: 26A33, 33E12, 33C60, 44A20The classical economic production model (EPQ) has been extended in many directions to incorporate factors encountered in real-life situations. In this paper, an EPQ model that accounts for the cost of raw material needed for production is examined. It is assumed that the raw material acquired from the supplier contains a percentage of imperfect quality items. At the beginning of the inventory cycle, the raw material is received instantaneously, and a 100% screening...
We survey results related to the problem of the existence of equilibria in some classes of infinitely repeated two-person games of incomplete information on one side, first considered by Aumann, Maschler and Stearns. We generalize this setting to a broader one of principal-agent problems. We also discuss topological results needed, presenting them dually (using cohomology in place of homology) and more systematically than in our earlier papers.
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