Buying and selling behavior in stochastic environments with backstop markets (Q749419)
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scientific article; zbMATH DE number 4172699
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| English | Buying and selling behavior in stochastic environments with backstop markets |
scientific article; zbMATH DE number 4172699 |
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Buying and selling behavior in stochastic environments with backstop markets (English)
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1989
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The main body of this paper contains a theoretical analysis of the behavior of a firm (a buyer) facing a stochastic supply curve for its input, but in addition has access to (deterministic) backstop markets, where it can buy its input after the realization in the ordinary stochastic market is known. It is shown that some of the ranking results of \textit{K.-G. Löfgren} and \textit{B. Ranneby} [Scand. J. Econ. 89, 39-54 (1987; Zbl 0616.90009)] can be proved under more general conditions.
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stochastic supply curve
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backstop markets
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stochastic market
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0.7459380626678467
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0.6911680698394775
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0.684199869632721
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0.6656458377838135
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