Equilibrium Storage with Multiple Commodities
This page collects files and computer code for the paper Equilibrium Storage with Multiple Commodities by Kazuo Nishimura and John Stachurski.
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.
All the code for the paper is in the