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| Tekijä: | Carter, C.A. Revoredo-Giha, C.L. |
| Otsikko: | Eastham's commodity storage model in a modern context |
| Lehti: | Oxford Economic Papers
2009 : OCT, VOL. 61:4, p. 801-822 |
| Asiasana: | commodity markets models |
| Kieli: | eng |
| Tiivistelmä: | In this paper, revived is the seminal work of Jack Kenneth Eastham (hereafter as: E.), an economist from the Dundee School of Economics (the U.K., Scotland). E. wrote in the 1930s on the theoretical aspects of storable commodity markets (here as: s-c-mkts). E's contribution is presented. It is shown that despite using a graphical analysis, E's model anticipated the modern competitive storage model. Explored are the writings with possible influence on E. in the formulation of his model, by considering contributions of Wicksteed, through the influence of the London School of Economics (LSE), Keynes, and economists from the United States (U.S.). To conclude, explored are possible reasons why E's contribution on s-c-mkts. was overlooked in the subsequent literature. |
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