Traditional theory of the consumer explains development of demand through changes in prices and income. Consumer tastes and preferences are considered to be constant, stable, therefore does not take account of them in explaining market participants behavior. Indeed, from scientific point of...

We present a medium-term market equilibrium model of the North American crude oil sector via which we develop a scenario analysis to investigate strategies to mitigate the environmental and public-safety risks from crude-by-rail transportation across the United States. The model captures crude...

This paper analytically examines the demand for surgical masks following the recent health precautions due to coronavirus. Using a simple linear demand curve and alternatively examining the impacts of requirements that mandate (a) the wearing of masks by frontline workers; (b) suggested but not...

District heating plays an important role in many countries with cold climates. District heating are local systems and in most cases, they organized as natural monopoly markets. This article examines the three variants for the formation of prices for household consumers on monopoly district...

The study aims to examine reasons for agribusiness proprietors seeking unconventional loans, where conventional lenders offer loans at lower interest rates. Using cross-sectional data analysis, the study revealed the type of clients served by unconventional lending sector: Households that are...

We study the consequences of imposing a minimum coverage in an insurance market where enrollment is mandatory and agents have private information on their true risk type. If the regulation is not too stringent, the equilibrium is separating in which a single insurer monopolizes the high risks...