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The By-Product Effect on Metal Markets : New Insights to the Price Behavior of Minor Metals

Title data

Afflerbach, Patrick ; Fridgen, Gilbert ; Keller, Robert ; Rathgeber, Andreas W. ; Strobel, Florian:
The By-Product Effect on Metal Markets : New Insights to the Price Behavior of Minor Metals.
In: Resources Policy. Vol. 42 (December 2014) Issue 1 . - pp. 35-44.
ISSN 1873-7641
DOI: https://doi.org/10.1016/j.resourpol.2014.08.003

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Abstract in another language

We will examine price dependencies between primary products and co-products from metal markets. First, we develop an optimization model to determine the profit-maximizing extraction behavior of mining companies. With this model, we analyze how the companies optimally react to exogenous demand shocks on the metal markets, and how the prices of metallic primary products and their co-products are related to each other. This approach enables us to determine the basic conditions leading to price relationships. Second,we validate our theoretical findings on monthly metal prices from June 2009 to January 2013. We apply a linear regression model to analyze the price relationships of the
primary products and their co-products and finally compare
the results of our analysis to our model forecasts.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: metal prices, price dependencies, joint production, by-product, co-product, empirical test, minor metals, commodity price driver
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professorship Business Informations Systems and sustainable IT management
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professorship Business Informations Systems and sustainable IT management > Professorship Business Informations Systems and sustainable IT management- Univ.-Prof. Dr. Gilbert Fridgen
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Faculties
Faculties > Faculty of Law, Business and Economics
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 31 Mar 2015 08:41
Last Modified: 10 Oct 2018 10:49
URI: https://eref.uni-bayreuth.de/id/eprint/7712