However, experience suggests that national solutions have compounded the problem by increasing market distortions giving rise to downstream trade disputes.
Taleizadeh et al. (2016) developed an imperfect economic production quantity model with up-stream trade credit periods linked to raw material-order quantity and downstream trade credit periods.
Huang ([2003]) extended Goyal's model (1985) to the case in which the supplier offers the retailer the permissible delay period M (i.e., the upstream trade credit), and the retailer in turn provides the trade credit period N (with N < M) to his customers (i.e., the downstream trade credit).
The earnings would have been worse if not for an increase in profits from downstream refining and trading, which rose to $2.6bn from $1.6bn last year.
Figure 6 a N-user ADSL downstream scenario, b Trade-off data rate performance in percent versus power usage for two- up to seven-user ADSL downstream scenario of a.
We show that when (a) the upstream principal is not personally interested in the downstream level of trade, (b) the agent's valuations are positively correlated, and (c) preferences in the downstream relationship are separable, then it is optimal for the upstream principal to offer the agent full privacy.
Instead, utilities are responding to their woes by shifting out of power generation and into "downstream" activities, such as trading and offering customers advice on energy use.
Bullboats, a round watercraft created by stretching a bison skin over a framework of willow withes, were often used to transport large quantities of meat or trade goods downstream.
In 1996 Gandur made the salmon leap from the downstream activities of oil trading and marketing, which provide thin margins by moving huge volumes of other people's oil, into the upstream, which entails more risk and upfront investment but offers fatter returns.
Where drugs have bred the most violence and corruption in Colombian society is in that downstream part of the trade where the real profits accumulate.
"That's a reflection of the lack of trust, the fact that we don't know what business the markets are in, and there's so much algorithmic trading and technology-driven trading it's created downstream problems".
