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A Rational Expectations Model Of Inventory Holding Under Risk And Uncertainty

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Listed:
  • Glauber, Joseph W.
  • Miranda, Mario J.

Abstract

In this paper a model of inventory holding under risk and uncertainty is developed and introduced into a model of the U.S. soybean market. Through simulation experiments the effects of risk on price levels and stability are measured and the welfare effects on producers, consumers and inventory holders are discussed.

Suggested Citation

  • Glauber, Joseph W. & Miranda, Mario J., 1986. "A Rational Expectations Model Of Inventory Holding Under Risk And Uncertainty," 1986 Annual Meeting, July 27-30, Reno, Nevada 278113, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea86:278113
    DOI: 10.22004/ag.econ.278113
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    References listed on IDEAS

    as
    1. Holbrook Working, 1948. "Theory of the Inverse Carrying Charge in Futures Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(1), pages 1-28.
    2. Wright, Brian D & Williams, Jeffrey C, 1982. "The Economic Role of Commodity Storage," Economic Journal, Royal Economic Society, vol. 92(367), pages 596-614, September.
    3. Brian D. Wright & Jeffrey C. Williams, 1984. "The Welfare Effects of the Introduction of Storage," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(1), pages 169-192.
    4. Plato, Gerald & Gordon, Douglas, 1983. "Dynamic Programming and the Economics of Optimal Grain Storage," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(1), pages 1-13, January.
    5. Glauber, Joseph W. & Powers, Nicholas J., 1985. "Inventory and Hedging Decision-Making Under A Multi-Period Planning Horizon and Price Uncertainty," 1985 Annual Meeting, August 4-7, Ames, Iowa 278562, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    Full references (including those not matched with items on IDEAS)

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