Equilibrium storage with multiple commodities

Kazuo Nishimura and John Stachurski ()

Journal of Mathematical Economics, 2009, vol. 45, issue 1-2, 80-96

Abstract: 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.

Keywords: Commodities; Dynamic; programming; Stability (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (5)

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Related works:
Working Paper: EQUILIBRIUM STORAGE WITH MULTIPLE COMMODITIES (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:45:y:2009:i:1-2:p:80-96

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