|
|
|
|
|
| Menkhaus, Dale J.; Bastian, Christopher T.; Phillips, Owen R.; O'Neill, Patrick D.. |
| Laboratory experimental methods are used to investigate the impacts of supply and/or demand risks on prices, quantities traded, and earnings within forward and spot market institutions. Random demand and/or supply shifts can be as much as 25 percent of the expected equilibrium outcome. Nevertheless, results suggest that the spot or forward trading institution itself has a greater influence on market outcomes than the presence of risk within the trading institutions. Sellers tend to have relatively higher earnings in a spot market than buyers, regardless of the risk. Total surplus, however, generally is greater in a forward market. |
| Tipo: Journal Article |
Palavras-chave: Laboratory markets; Forward market; Spot market; Supply and/or demand risks; Demand and Price Analysis; Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/15388 |
| |
|
|
| Menkhaus, Dale J.; Bastian, Christopher T.; Phillips, Owen R.; O'Neill, Patrick D.. |
| Laboratory methods are used to investigate the impacts of supply and demand risks in a forward market on prices, quantities traded, and earnings when the choice of transacting in a forward or spot market is endogenous. Forward market activity dominates spot trading, with 80-90% of the trades taking place in the forward market regardless of how risk arises. Buyer earnings tend to be higher than earnings for sellers when there is risk. A correspondence exists between risk type and the relative increase in buyer earnings. Buyer earnings increase significantly when demand is random, and also when both supply and demand are random. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1999 |
URL: http://purl.umn.edu/30793 |
| |
|
|
|
