Publications
Detailed Information
A Generalization of Modeling for Markets of Substitutive Raw Materials
Cited 0 time in
Web of Science
Cited 0 time in Scopus
- Authors
- Issue Date
- 1993-07
- Citation
- Seoul Journal of Economics, Vol.6 No.3, pp. 267-282
- Keywords
- price volatility ; isolative commodity model ; connective model
- Abstract
- In this paper we generalize a commodity market model to n gross substitutes. We analyse the specification errors if some gross substitutes are neglected. We proved the following main proposition that the volatility of market price and trade volume for each of the n gross substitutes will be underspecified in a model in which at least one of the gross substitutes is not considered, and the degree of the specification error for the price volatility and the trade volume is more serious the higher the number of gross substitutes not considered in a model.
- ISSN
- 1225-0279
- Language
- English
- Files in This Item:
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.