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Demand Diversification Under Uncertainty and Market Power

✍ Scribed by John J. Y. Seo


Book ID
108520844
Publisher
John Wiley and Sons
Year
2001
Tongue
English
Weight
223 KB
Volume
15
Category
Article
ISSN
1351-3958

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πŸ“œ SIMILAR VOLUMES


Futures market equilibrium under Knighti
✍ Donald Lien; Yaqin Wang πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 122 KB

## Abstract This paper examines the effects of Knightian uncertainty on a commodity futures market within the Newbery‐Stiglitz framework. It is shown that Knightian traders act more conservatively. In a partial trade equilibrium, risk aversion and Knightian uncertainty have qualitatively similar ef