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Lechts oder links

Workshop: Lechts oder Rinks? Hilfen und Methoden zur Entscheidungsfindung.

So findest du schneller und unkomplizierter zu deinen richtigen Entscheidungen! Sei dabei – online – am 6. Dezember 2021!

Veröffentlicht am 30 November 2021
juha tolvanen

Research seminar by Juha Tolvanen, University of Vienna

Date: 30.11.2021 from 18:00 to 19:30 (online)

Title: Pulp Friction: The Value of Quantity Contracts in Decentralized Markets

Speaker: Juha Tolvanen (University of Vienna)

Abstract: Firms in decentralized markets often trade using quantity contracts, agreements that specify quantity in advance of trade. We show that firms use quantity contracts to reduce the costs of trading frictions. Specifically, quantity contracts are valuable for two reasons. First, they increase trade between high surplus trading partners because they lock in trade prior to the point of sale. Second, they provide quantity insurance — we show that buyers and sellers are endogenously risk averse with respect to quantity. However, quantity contracts are costly due to their inflexibility to market conditions. Using proprietary invoice data from a large seller, we estimate a model of quantity contracts in the pulp and paper industry. We find that the median value of a quantity contract is 10% of net price. The median value would be 25% lower without quantity insurance and 84% higher without the cost of inflexibility. As trading frictions diminish, the seller uses fewer quantity contracts and profits increase.

Veröffentlicht am 30 November 2021
Biodiversitaet

Viel Rot und großer Handlungsbedarf: Biodiversitätsrat präsentiert Update des Barometers zur Biodiversitätspolitik in Österreich

Am 4. Forum zu Biodiversität und Ökosystemleistungen präsentiert der Österreichische Biodiversitätsrat seine aktualisierte Einschätzung der Biodiversitätspolitik in Österreich in Form des Barometers 2021: In 19 Punkten haben die Expert*innen jene politischen Pläne und Aktivitäten evaluiert, die zum Stopp des Artenverlusts führen sollen.

Veröffentlicht am 29 November 2021