uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …

uncertainty about the global price elasticity of oil supply is accounted for by specifying a prior more in line with extraneous … account for uncertainty about their identifying assumptions. They recommend an alternative econometric approach intended to … to parameterize identification uncertainty without falling back on ad hoc prior specifications. They are also unable to …

A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have … uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function …. Price-cost margins and bid shading are affected by the parameters of the information structure: supply functions are steeper …

A Bayesian supply function equilibrium is characterized in a market where firms have private information about their … uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition …, competitiveness is affected by the parameters of the information structure: supply functions are steeper with more noise in the …

In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …