Speaker 1: Ian Hardman

 "Modeling Competition in the Global Coal and Gas Market"

Abstract:

A spatial equilibrium model of the world coal and gas market is developed that accounts for coal to natural gas switching, liquefaction and regasifiction constraints, potential for monopsony power, and the impacts of sanctions against key participants in the market. The market equilibrium is computed as the solution to a nonlinear complementarity problem. Where possible, parameters of the model are estimated econometrically or taken from observed data and the literature. Where this is not possible, the parameters are calibrated to observed global market outcomes in 2019 including production quantities and bilateral trade flows.

Speaker 2: Hamza Husain

 "The Economic Impacts of Precision Production"

Abstract:

Our paper provides a theoretical framework through which to analyze the economic impact of "agricultural precision technologies", or technologies that are capable of adjusting input application to spatial or temporal variability within a firm. We aim to fill a void in the theory on the economics of precision application systems, deriving resource allocation under both traditional and precision technologies and providing a general theory that identifies under which conditions these technologies will be adopted by profit-maximizing firms. We also intend to apply the model empirically using remotely-sensed agricultural yield data from the Corn Belt to assess which farms could profitability adopt variable-rate fertilizer technology.