Forward Markets and the Behaviour of the Competitive Firm with Production Flexibility - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Forward Markets and the Behaviour of the Competitive Firm with Production Flexibility write by Kit Pong Wong. This book was released on 2003. Forward Markets and the Behaviour of the Competitive Firm with Production Flexibility available in PDF, EPUB and Kindle. This paper examines the production and hedging decisions of the competitive firm under output price uncertainty when a forward market for its output is available. The firm possesses production flexibility in that it makes its production decision after the resolution of the output price uncertainty, albeit subject to a capacity constraint on production. We show that the firm optimally acquires a higher level of capacity investment than an otherwise identical firm with no production flexibility. We further show that production flexibility allows the firm to implicitly hedge against its output price risk exposure by the production decision. The firm as such under-hedges its output price risk exposure in the forward market wherein the forward price contains a non-positive risk premium.
Production Flexibility and the Behaviour of the Competitive Firm Under Price Uncertainty
Production Flexibility and the Behaviour of the Competitive Firm Under Price Uncertainty - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Production Flexibility and the Behaviour of the Competitive Firm Under Price Uncertainty write by Larry Epstein. This book was released on 1978. Production Flexibility and the Behaviour of the Competitive Firm Under Price Uncertainty available in PDF, EPUB and Kindle.
Production Flexibility and the Behaviour of the Competitive Form Under Price Uncertainty
Production Flexibility and the Behaviour of the Competitive Form Under Price Uncertainty - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Production Flexibility and the Behaviour of the Competitive Form Under Price Uncertainty write by Epstein, Larry G. This book was released on 1978. Production Flexibility and the Behaviour of the Competitive Form Under Price Uncertainty available in PDF, EPUB and Kindle.
The Transformation of Work?
The Transformation of Work? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Transformation of Work? write by Stephen Wood. This book was released on 2024-09-02. The Transformation of Work? available in PDF, EPUB and Kindle. Originally published in 1989, and now reissued with a new preface by the editor, this interdisciplinary study brings together an internationally distinguished group of scholars to shed light about work organization and the effects of new management methods and technologies. The book gives an incisive account of changes in work organization and relations during the latter part of the 20th Century. Accessible and comprehensive, it will be of interest to those in the sociology of work, industrial relations, organization theory, economics, geography and management
Competition and Efficiency in International Food Supply Chains
Competition and Efficiency in International Food Supply Chains - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Competition and Efficiency in International Food Supply Chains write by John Williams. This book was released on 2012-07-26. Competition and Efficiency in International Food Supply Chains available in PDF, EPUB and Kindle. Why have food crises seemingly become more frequent in recent years, compared to the last few decades? This book examines an array of different issues and distortions that are causing food supply chain dysfunction in many countries, particularly for staple non-perishable foods such as grains, oilseeds, pulses and sugar. It outlines the underlying changes that are currently occurring, which will have an influence on the direction of future food supply chains, and provides some solutions to current food security problems. Based on an analysis of total regulation in the 1950s-60s through to deregulation during the 1980-90s, as well as post-deregulation, it focuses on liberal trade and deregulation as a more successful solution to creating efficiencies in food supply chains and distribution. The author highlights a common thread of either farmers using government for vested-interest intervention, or autocratic governments seeking market and supply-chain power. The book examines the role of government after 70 years of food supply chain intervention. It discusses the role of commercial ‘trade’ markets and cluster industries and how these can quickly disintegrate when price distortions occur. The author studies both food importing and exporting countries and concludes that comingled commoditization of food has led to increased hoarding, corruption, and dependence on food aid. He argues that a competitive food supply chain that has minimum intervention is more likely to provide future food security. In conclusion the book emphasizes that adequate rewards, competition, and striving for supply chain efficiencies are the essences of sustainable food security.
