Skip navigation
Skip navigation

Equilibrium Storage with Multiple Commodities

Nishimura, Kazuo; Stachurski, John

Description

This paper introduces a multisector model of commodity markets with storage, where equilibrium is defined by profit maximization, arbitrage and market clearing conditions. We then solve for the decentralized equilibrium via a corresponding dynamic program. We also describe the dynamics of the model, establishing geometric ergodicity, a Law of Large Numbers and a Central Limit Theorem.

CollectionsANU Research Publications
Date published: 2009
Type: Journal article
URI: http://hdl.handle.net/1885/28528
Source: Journal of Mathematical Economics
DOI: 10.1016/j.jmateco.2008.07.004

Download

File Description SizeFormat Image
01_Nishimura_Equilibrium_Storage_with_2009.pdf702.52 kBAdobe PDF    Request a copy
02_Nishimura_Equilibrium_Storage_with_2009.pdf2.16 MBAdobe PDF    Request a copy


Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  12 November 2018/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator