An auctioneer manages bidding in auctions and acts as a theoretical device in economics to determine equilibrium prices in competitive markets.
A comprehensive guide to understanding Calvo Contracts, their role in New Keynesian economics, the underlying model, key concepts, historical context, and applications.
A comprehensive analysis of Market Microstructure, encompassing the mechanics of market operations, price setting mechanisms, and traded volumes.
A comprehensive exploration of the Price-Maker concept, its historical context, types, key events, mathematical models, and its importance in economics.
An in-depth exploration of price-setters in economic and financial contexts, their historical background, characteristics, models, examples, and significance.
The Taylor contract is a model of nominal rigidity, or staggered prices, in New Keynesian economics where nominal prices are set by firms for a finite number of periods. Originally formulated by John Taylor for wage-setting by labor unions, it was later generalized to price-setting by firms.
A detailed explanation of fixation, the process of setting present or future prices of commodities by assessing market forces.
An in-depth exploration of the concept of Monopoly Price, its determination, implications, and comparison with competitive market prices.
