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Buffer stocks operation with different supply specification: A simulation analysis

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  • Bigman, David

Abstract

The paper examines, via simulation analysis the stabilizing effects of buffer stocks under different forms of supply functions, where each specification of the supply function represents a different expectational form about future prices. The analysis is carried out under different assumptions of the market structure allowing, in particular, for the effects of serial correlation. The paper concludes that the specific effects of buffer stocks strongly depends on the economic environment wuthin which they operate.

Suggested Citation

  • Bigman, David, 1982. "Buffer stocks operation with different supply specification: A simulation analysis," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 24(1), pages 77-87.
    • Handle: RePEc:eee:matcom:v:24:y:1982:i:1:p:77-87
    DOI: 10.1016/0378-4754(82)90054-4
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    References listed on IDEAS

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    1. Stephen J. Turnovsky, 1974. "Price Expectations and the Welfare Gains from Price Stabilization," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(4), pages 706-716.
    2. Bigman, David & Reutlinger, Shlomo, 1979. "National and International Policies toward Food Security and Price Stabilization," American Economic Review, American Economic Association, vol. 69(2), pages 159-163, May.
    3. Benton F. Massell, 1969. "Price Stabilization and Welfare," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(2), pages 284-298.
    4. Frederick V. Waugh, 1944. "Does the Consumer Benefit from Price Instability?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 58(4), pages 602-614.
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