Defining a conceptual model for market mechanisms in food supply chains, and parameterizing price functions for coffee, wheat, corn, soybeans and beef

Anna Hulda Olafsdottir*, Harald Ulrik Sverdrup

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)

Abstract

The contribution of the study presented in this paper is twofold. Firstly, to add to the present body of knowledge of food supply and demand model dynamics and the associated economics, based on system analysis. It describes a new approach for dealing with price mechanisms in models based on causal links and dynamic feedbacks. It has been applied to some main global food commodities, but has also been used for metals and materials in a parallel study. The price mechanism is described in a way to be useful for other modelers dealing with price mechanism, and it enables modelers to make dynamic price endogenous in models. Secondly, it presents price function curves for different food commodities, parameterizing a fundamental property of the commodity trade.

Original languageEnglish
Pages (from-to)224-247
Number of pages24
JournalInternational Journal on Food System Dynamics
Volume10
Issue number2
DOIs
Publication statusPublished - 2019

Bibliographical note

Funding Information:
The VALUMICS project titled 需Understanding food value chains adn network dynamics 开 leading to this publication has received funding from the European Union 嬁退 Hzoonri  research and innovation program under grant agreement No  wo堀rk T phreesented here is derived from the initial conceptualization work in the VALUMICS project 唀 for system dynamics modelling ofof od supply 爃唀 value and decision chains 唀 and is the authors own initiative to apply the WORLD  model tom odel price for different food commodities 堀 On behalf of all authors 唀 the rcroesponding author states that there is no conflict of interest 堀

Publisher Copyright:
© 2019 CentMa GmbH.

Other keywords

  • Beef
  • Grain
  • Market
  • Market price
  • Supply chain modelling
  • System dynamics

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