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Defining a Conceptual Model for Market Mechanisms in Food Supply Chains, and Parameterizing Price Functions for Coffee, Wheat, Corn, Soybeans and Beef

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  • Olafsdottir, Anna Hulda
  • Sverdrup, Harald Ulrik

Abstract

The contribution of the study presented in this paper is twofold. Firstly, to add to the present body of knowledge of food supply and demand model dynamics and the associated economics, based on system analysis. It describes a new approach for dealing with price mechanisms in models based on causal links and dynamic feedbacks. It has been applied to some main global food commodities, but has also been used for metals and materials in a parallel study. The price mechanism is described in a way to be useful for other modelers dealing with price mechanism, and it enables modelers to make dynamic price endogenous in models. Secondly, it presents price function curves for different food commodities, parameterizing a fundamental property of the commodity trade.

Suggested Citation

  • Olafsdottir, Anna Hulda & Sverdrup, Harald Ulrik, 2019. "Defining a Conceptual Model for Market Mechanisms in Food Supply Chains, and Parameterizing Price Functions for Coffee, Wheat, Corn, Soybeans and Beef," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 10(02), April.
    • Handle: RePEc:ags:ijofsd:345308
    DOI: 10.22004/ag.econ.345308
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    References listed on IDEAS

    as
    1. Harald Ulrik Sverdrup & Anna Hulda Olafsdottir & Kristin Vala Ragnarsdottir & Deniz Koca, 2018. "A System Dynamics Assessment of the Supply of Molybdenum and Rhenium Used for Super-alloys and Specialty Steels, Using the WORLD6 Model," Biophysical Economics and Resource Quality, Springer, vol. 3(3), pages 1-43, September.
    2. Harald Ulrik Sverdrup & Anna Hulda Olafsdottir, 2018. "A System Dynamics Model Assessment of the Supply of Niobium and Tantalum Using the WORLD6 Model," Biophysical Economics and Resource Quality, Springer, vol. 3(2), pages 1-35, June.
    Full references (including those not matched with items on IDEAS)

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