The commodity futures price information conveyed by organized exchanges can be used by commodity processors to improve their procurement process. A practical obstacle in the utilization of this information is that the maturity dates of the traded contracts on the exchange and the decision cycle...

We analyze the dynamic strategic interactions between a manufacturer and a retailer in a decentralized distribution channel used to launch an innovative durable product (IDP). The underlying retail demand for the IDP is influenced by word-of-mouth from past adopters and follows a Bass-type...

Transaction costs foster the creation of (new) wealth through innovation and entrepreneurship, facilitated by "elementary contracts" – risky, non-traded agreements involving time-separated exchanges. However, the current price theory ignores these crucial realities. This research models the...