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| Strong, S.M.; Wolanowski, A.M.. |
| The determination of the price paid to its suppliers and by its customers is a major task for some marketing authorities. The commodity arrives randomly at the authority's facility and is removed randomly by customers. Between arrival and departure, the commodity awaits processing, is processed (graded, packed), and awaits removal by a customer. It is suggested that this similarity to a queue enables a profit function, dependent on price, to be constructed. Determination of the price maximising this function is seen to be one solution to the price setting problem. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1981 |
URL: http://purl.umn.edu/22863 |
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| Wolanowski, A.M.; Strong, S.M.. |
| Much previous work on agricultural stabilization has emphasized price stabilization. Stabilization is given a different meaning here. Additive error terms are attached to linear supply and demand functions, and the effects on consumers' and producers' surpluses of reducing these error terms are studied. That is, the error terms are assumed to have their variances reduced, and the expected values of the surpluses are derived and compared with their expected values corresponding to the original error term variances. The results are not favourable, and suggest that, with the particular criterion used here, stabilization of supply and demand functions is not as desirable as generally believed. Further results, allowing for shifts in the functions and the... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1977 |
URL: http://purl.umn.edu/9120 |
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