Title :
Supply uncertainty in commodity contracting: An agent-based model
Author :
Tong Zhang ; Yu Wu
Author_Institution :
Res. Inst. of Econ. & Manage., Southwestern Univ. of Finance & Econ., Chengdu, China
Abstract :
This article shows that in an oligopsony market with supply uncertainty, factors such as market concentration, price elasticity and cost function will affect whether processors procure commodity via forward market and the size of captive supplies they would use.
Keywords :
contracts; microeconomics; oligopoly; pricing; agent-based simulation; captive supplies; commodity contracting; cost function; market concentration; oligopsony market; price elasticity; supply uncertainty; Economics; Electric shock; Forward contracts; Procurement; Program processors; Uncertainty; captive supply; particle swarm optimization; procurement strategies; supply uncertainty;
Conference_Titel :
Behavior, Economic and Social Computing (BESC), 2014 International Conference on
DOI :
10.1109/BESC.2014.7059525
