An aggregative multiproduct supply model

This paper develops a simple multiproduct supply model. Differential supply equations are parameterized in terms of log-changes and resemble the Rotterdam demand model. U.S. data with three product groups is used to estimate the model by maximum likelihood and the restrictions implied by the theoretical model are tested.     

Periodic and chaotic programs of optimal intertemporal allocation in an aggregative model with wealth effects

Summary We examine a discrete-time aggregative model of discounted dynamic optimization where the felicity function depends on both consumption and capital stock. The need for studying such models has been stressed in the theory of optimal growth and also in the economics of natural resources. We identify conditions under which the optimal program is monotone. In our framework, the optimal program can exhibit cyclic behavior for all discount factors close to one. We also present an example to show that our model can exhibit optimal behavior which is chaotic in both topological and ergodic senses.We would like to thank V. Bala, J. Benhabib, P. Dasgupta, R. Day, L. W. McKenzie, K. Nishimura, S. Roy, and a referee of this journal for comments on earlier versions of this paper. Research support from the National Science Foundation is gratefully acknowledged.     

Towards an economic theory of the multiproduct firm

This paper outlines a theory of the multiproduct firm. Important building blocks include excess capacity and its creation, market imperfections, and the peculiarities of organizational knowledge, including its fungible and tacit character. A framework is adopted in which profit seeking firms are seen to diversify in order to avoid the high transactions costs associated with using various markets to trade the services of various specialized assets. Neoclassical explanations of the multiproduct firm are shown to be seriously deficient.     

Asset bubbles in an overlapping generations model with endogenous labor supply

This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We show analytically that asset bubbles can lead to an expansion in steady-state capital, investment, employment and output under certain conditions.     

Estimating continuous consumer equivalence scales in an expenditure model with labour supply

The cubic spline technique is used in conjunction with a utility based approach to measuring household composition effects in demand analysis, in order to derive estimates of continuous consumer equivalence scales in the context of a quasi-homothetic expenditure model that incorporates the labour supply decision.     

Alternative interpretations of hours information in an econometric model of labour supply

This paper examines the labour supply behaviour of married women in France. A sequence of models is specified and estimated which incorporate different amounts of information on observed weekly hours. In all models the distinction is drawn between search and non-participation among non-workers. We provide extensive specification diagnostics, including Heckman-Andrews tests, as well as Hausman tests for the comparison of different handlings of the hours information. It turns out that distinguishing between part-time, full-time and long hours gives virtually the same results as treating observed hours as reflecting desired hours.     

A note on multiproduct economies of scale and economies of scope

Two measures of (local) economies of scale for a firm producing more than two products are derived using measures of product-specific economies of scale and economics of scope. The latter is especially useful for econometric estimation and testing.     

The supply of qualified nurses: a classical model of labour supply

The need to ensure adequate numbers of nurses is a key requirement of the current modernization of the UK NHS. However, it is unclear how effective wages are as an instrument to maintain or increase the nursing workforce, both in terms of absolute numbers and in the number of whole time equivalents. This study sets out to estimate a classical model of labour supply for British qualified married or cohabiting nurses and midwives, looking at both the participation decision and the hours of work supplied. Data are from the Quarterly Labour Force Survey over the years 1999–2000. Participation and hours of work are found to be inelastic with respect to own wage. These results suggest that increasing the wage would only have a moderate effect on labour supply. Interestingly, there is no significant statistical difference between having a child of nursery age (3–4) and having a child of school age (5–15) on participation and hours supplied. This suggests that recent policy initiatives to increase female labour force participation, through the provision of free nursery places, has been successful. Preliminary analysis of a split private and public sector sample suggests that hours supplied are completely inelastic with respect to wages in the public sector.     

产业集群与专业市场的互动机制研究

产业集群与专业市场之间存在相互促进的关系:产业集群的需求聚集效应与供给聚集效应能使专业市场产生明显的外部性,降低市场交易费用,增强专业市场的竞争力,而专业市场也能促进产业集群的产生,并使之良性发展,形成对集群产业升级的强有力的支撑.     

A multi-echelon supply chain model for reworkable items in multiple-markets with supply disruption

The objective of this paper is to develop a multi-echelon supply chain model for multiple-markets with different selling seasons. Here, two suppliers are involved to supply the raw materials to the manufacturer where the main supplier may face supply disruption after a random time and the secondary supplier is perfectly reliable but more expensive than the main supplier. In this article, the manufacturer produces a random proportion of defective items which are reworked after regular production and are sold in a lot to another market just after completion of rework. The retailer sells the finished products in different markets according to seasons. Finally, an integrated expected cost per unit product of the chain is minimized analytically by considering the lot-size ordered as a decision variable. An appropriate numerical example is also provided to justify the proposed model.     

基于价格竞争的供应链网络均衡模型研究

价格在消费者的购买决策行为上扮演着相当重要的角色,每个需求市场对商品的需求都是价格敏感的.它决定了市场的需求量.从厂商的角度来看,价格是市场竞争的重要工具之一,也是利润的主要来源.针对具有多个供应商、多个需求市场的供应链网络,建立了基于价格竞争的供应链网络模型,模型能充分反映多个供应商及其工厂、多个需求市场条件下的价格竞争过程;针时模型解的存在性,给出试错法来调整均衡解.     

The supply side in a post-Keynesian two-sector model

Summary In order to avoid missing the wood for trees a brief summary of the results having been obtained above appears to be appropriate.Firstly, we regard it as a result in itself of the present paper to have presented a two-sector model encapsulating a Kaleckian (and Kaldorian) vision of a capitalist economy, a model in which supply conditions of primary products take up a prominent position.Secondly, it belongs to the main results of the paper that it has laid bare, through the model presented, an astoundingly simple pattern in the way economic key-concepts such as activity, employment and distributive shares are affected by on one hand the demand side (which has so far captured an excessive amount of attention in macroeconomic modelling) and on the other hand the largely neglected supply side of the economy.Thirdly, by means of an arbitrary but not implausible numerical example we have attempted to indicate how changes in activity and distributive shares caused by exogeneous changes on the demand and supply side of the economy, respectively, are in themselves crucially dependent on (the assumptions concerning) the supply elasticity of primary products.The notation applied will be as follows C consumption - C ⁰ autonomous element of the consumption function - I investment (gross) - A autonomous expenditure - S savings (gross) - U stock of the primary product - Q real output (not necessarily real income) (gross) - Y income (gross) - W wage bill - L employment - w money wage rate - p price level - mark-up factor - level parameter of the production function pertaining to the primary sector - a labour-input coefficient of the industrial sector - b raw-material input coefficient of the industrial sector - s _w marginal propensity to save out of wages - s marginal propensity to save out of profits - s (weighted) average ofS _w ands - (unit) raw material costs as a proportion of total (unit) prime costs - share of wages in total income - E _{y, x} partial or total elasticity ofY with respect toX. I am most grateful to Søren Gammelgård, Peter Guldager, Erik Strøjer Madsen, Jørgen Ulff-Møller Nielsen, Kurt Pedersen and an anonymous referee for their valuable suggestions and helpful comments on an earlier draft of this paper.     

A collaborating inventory model in a supply chain

The present article investigates an economic order quantity/ economic production quantity model in three-layer (manufacturer, vendor and retailer) supply chain management. In each stage, the products may undergo non-conforming quality items which have less value in the market. This model maximizes a collaborating expected profit function while production rate, order quantity, number of shipments with equal sizes are decision variables and unit production cost is a function of production rate. Numerical example is illustrated to test the model.     

基于加权小世界网络模型的供应链知识共享研究

在对知识共享的影响因素进行分析的基础上,引入加权小世界网络模型,运用知识共享阻力、知识价值和知识共享成本三个参数来量化供应链知识共享绩效,并得出了三者对供应链知识共享绩效的影响函数,这对供应链企业间建立有利于知识共享的关系具有一定的指导意义。     

More on phantom bidding

Summary. A phantom bidding model is analyzed for a sale auction. The following issues are addressed: the effects of phantom bidding on overall social welfare and buyers' profits. It is shown that social welfare may increase or decrease as the auctioneer switches from the fixed reserve price policy to phantom bidding. The buyers' profits will increase whenever social welfare increases. Received: November 4, 1998; revised version: February 8, 1999     

The effects of consumption externalities in an R&D-based growth model with endogenous skilled and unskilled labor supply

We examine the roles of consumption externalities in a variety-expansion growth model. By assuming that the R&D sector is more skilled labor intensive than the consumption goods sector, we extend the model of Doi and Mino (J Econ Dyn Control 32:3055?C3083, 2008) so that both the skilled and unskilled labor supplies are endogenously determined through the skill acquisition process. We show that some results of Doi and Mino are influenced by our modification. For example, in contrast to Doi and Mino who show that the R&D subsidy can have a negative growth effect in the presence of consumption externalities, we show that the R&D subsidy has unambiguously positive growth effects, regardless of the presence of consumption externalities. Further, it is shown that the presence of consumption externalities influences various aspects of the economy including the wage inequality and the incentive of skill acquisition.     

Risk in supply response: an econometric application

The impact of risk aversion on supply response is empirically estimated for selected field crops in California. As indicators of risk aversion the following surrogate variables are used: variance of past prices and yields, adjusted price to reflect the role of government support price over the market price and the dummy variables indicating price expectations. In general, the econometric estimates show a negative impact of risk aversion measured by the surrogate variables and this has implications for welfare gains resulting from price support policies aimed at stabilization.     

Study on pricing decision of new energy vehicle supply chain under Baa S model

Based on the Baa S model, a new energy vehicle supply chain game model composed of battery-swapping operators and vehicle manufacturers was constructed, and the corresponding optimal decisions of the supply chain members were obtained. The influence of related parameters on the equilibrium results was analyzed, and the Matlab was used for example analysis. The results show that:(1) The increase in the average consumer commuter mileage over the life of the vehicle can promote the increase in the ...