Loyalty Discounts

2013 ◽  
Vol 13 (2) ◽  
pp. 655-685 ◽  
Author(s):  
Uğur Akgün ◽  
Ioana Chioveanu
Keyword(s):  
Private Information ◽  
Risk Attitude ◽  
Differentiated Products ◽  
Quantity Discounts ◽  
Risk Averse ◽  
Product Substitution ◽  
Market Outcomes ◽  
Wide Range ◽  
Parameter Values ◽  
Pricing Schemes

Abstract This article analyses the use of loyalty inducing discounts in vertical supply chains. An upstream supplier and a competitive fringe sell differentiated products to a retailer who has private information about the stochastic demand. We compare the market outcomes, when the supplier uses two-part tariffs (2PT), all-unit quantity discounts (AU), and market-share discounts (MS). We show that the retailer’s risk attitude affects supplier’s preferences over these pricing schemes. When the retailer is risk neutral, it bears all the risk and the three schemes lead to the same outcome. When the retailer is risk averse, a 2PT performs the worst from the supplier’s perspective, but it leads to the highest welfare. For a wide range of parameter values (but not for all), the supplier prefers MS to AU. By limiting the retailer’s product substitution possibilities, MS makes the demand for the manufacturer’s product more inelastic. This reduces the amount (share of total profits) the supplier needs to leave to the retailer for the latter to participate in the scheme.

Risk Attitude and Corporate Investment under Output Market Uncertainty: Evidence from The Mekong River Delta, Vietnam

2016 ◽  
pp. 59-70
Author(s):  
Ninh Le Khuong ◽  
Nghiem Le Tan ◽  
Tho Huynh Huu
Keyword(s):  
Negative Relationship ◽  
Risk Attitude ◽  
Business Strategies ◽  
Risk Averse ◽  
Market Uncertainty ◽  
Firm Investment ◽  
Output Market ◽  
The Impact ◽  
The Relationship

This paper aims to detect the impact of firm managers’ risk attitude on the relationship between the degree of output market uncertainty and firm investment. The findings show that there is a negative relationship between these two aspects for risk-averse managers while there is a positive relationship for risk-loving ones, since they have different utility functions. Based on the findings, this paper proposes recommendations for firm managers to take into account when making investment decisions and long-term business strategies as well.

scholarly journals β-Lactoglobulin Adsorption Layers at the Water/Air Surface: 5. Adsorption Isotherm and Equation of State Revisited, Impact of pH

2021 ◽  
Vol 5 (1) ◽  
pp. 14
Author(s):  
Georgi G. Gochev ◽  
Volodymyr I. Kovalchuk ◽  
Eugene V. Aksenenko ◽  
Valentin B. Fainerman ◽  
Reinhard Miller
Keyword(s):  
Theoretical Description ◽  
Fluid Interfaces ◽  
Interfacial Behavior ◽  
Current State ◽  
Air Interface ◽  
Direct Measurements ◽  
Wide Range ◽  
Dilational Viscoelasticity ◽  
Parameter Values ◽  
Β Lactoglobulin

The theoretical description of the adsorption of proteins at liquid/fluid interfaces suffers from the inapplicability of classical formalisms, which soundly calls for the development of more complicated adsorption models. A Frumkin-type thermodynamic 2-d solution model that accounts for nonidealities of interface enthalpy and entropy was proposed about two decades ago and has been continuously developed in the course of comparisons with experimental data. In a previous paper we investigated the adsorption of the globular protein β-lactoglobulin at the water/air interface and used such a model to analyze the experimental isotherms of the surface pressure, Π(c), and the frequency-, f-, dependent surface dilational viscoelasticity modulus, E(c)f, in a wide range of protein concentrations, c, and at pH 7. However, the best fit between theory and experiment proposed in that paper appeared incompatible with new data on the surface excess, Γ, obtained from direct measurements with neutron reflectometry. Therefore, in this work, the same model is simultaneously applied to a larger set of experimental dependences, e.g., Π(c), Γ(c), E(Π)f, etc., with E-values measured strictly in the linear viscoelasticity regime. Despite this ambitious complication, a best global fit was elaborated using a single set of parameter values, which well describes all experimental dependencies, thus corroborating the validity of the chosen thermodynamic model. Furthermore, we applied the model in the same manner to experimental results obtained at pH 3 and pH 5 in order to explain the well-pronounced effect of pH on the interfacial behavior of β-lactoglobulin. The results revealed that the propensity of β-lactoglobulin globules to unfold upon adsorption and stretch at the interface decreases in the order pH 3 > pH 7 > pH 5, i.e., with decreasing protein net charge. Finally, we discuss advantages and limitations in the current state of the model.

scholarly journals A New Statistic for Detecting Genetic Differentiation

Genetics ◽  
2000 ◽  
Vol 155 (4) ◽  
pp. 2011-2014 ◽  
Author(s):  
Richard R Hudson
Keyword(s):  
Genetic Differentiation ◽  
Dna Sequences ◽  
Genetic Data ◽  
Island Model ◽  
Wide Range ◽  
Infinite Sites Model ◽  
Parameter Values

Abstract A new statistic for detecting genetic differentiation of subpopulations is described. The statistic can be calculated when genetic data are collected on individuals sampled from two or more localities. It is assumed that haplotypic data are obtained, either in the form of DNA sequences or data on many tightly linked markers. Using a symmetric island model, and assuming an infinite-sites model of mutation, it is found that the new statistic is as powerful or more powerful than previously proposed statistics for a wide range of parameter values.

scholarly journals Immigration and economic mobility

2021 ◽  
Author(s):  
Maria F. Hoen ◽  
Simen Markussen ◽  
Knut Røed
Keyword(s):  
Labor Market ◽  
Low Income ◽  
Labor Market Outcomes ◽  
Lower Class ◽  
Low Income Countries ◽  
Market Outcomes ◽  
Wide Range ◽  
Class Background ◽  
The Rich ◽  
Relative Prime

AbstractWe examine how immigration affects natives’ relative prime-age labor market outcomes by economic class background, with class background established on the basis of parents’ earnings rank. Exploiting alternative sources of variation in immigration patterns across time and space, we find that immigration from low-income countries reduces intergenerational mobility and thus steepens the social gradient in natives’ labor market outcomes, whereas immigration from high-income countries levels it. These findings are robust with respect to a wide range of identifying assumptions. The analysis is based on high-quality population-wide administrative data from Norway, which is one of the rich-world countries with the most rapid rise in the immigrant population share over the past two decades. Our findings suggest that immigration can explain a considerable part of the observed relative decline in economic performance among natives with a lower-class background.

scholarly journals OPTIMAL OUTCOME SHARING WITH A CONSORTIUM OF CONTRACTORS

2015 ◽  
Vol 22 (5) ◽  
pp. 655-665 ◽  
Author(s):  
S. Mahdi HOSSEINIAN ◽  
David G. CARMICHAEL
Keyword(s):  
Risk Aversion ◽  
Risk Attitude ◽  
Risk Averse ◽  
Optimal Outcome ◽  
Original Solution ◽  
Project Outcome ◽  
Risk Neutral ◽  
Current Practices

Where a consortium of contractors is involved, there exist no guidelines in the literature on what the outcome sharing arrangement should be. The paper addresses this shortfall. It derives the optimal outcome sharing arrangement for risk-neutral and risk-averse contractors within the consortium, and between the consortium and a risk-neutral owner. Practitioners were engaged in a designed exercise in order to validate the paper’s propositions. The paper demonstrates that, at the optimum: the proportion of outcome sharing among contractors with the same risk-attitude should reflect the levels of their contributions; the proportion of outcome sharing among contractors with the same level of contribu­tion should be lower for contractors with higher levels of risk aversion; a consortium of risk-neutral contractors should receive or bear any favourable or adverse project outcome respectively; and the proportion of outcome sharing to a con­sortium of risk-averse contractors should reduce, and the fixed component of the consortium fee should increase, when the contractors become more risk-averse or the level of the project outcome uncertainty increases. The paper proposes an original solution to the optimal sharing problem in contracts with a consortium of contractors, thereby contributing to current practices in contracts management.

Motion of slender bodies in unsteady Stokes flow

2011 ◽  
Vol 688 ◽  
pp. 66-87 ◽  
Author(s):  
Efrath Barta
Keyword(s):  
Stokes Flow ◽  
Slenderness Ratio ◽  
Creeping Flow ◽  
Slender Body Theory ◽  
Wide Range ◽  
Unsteady Stokes Flow ◽  
Slender Bodies ◽  
Set Up ◽  
Micro Organisms ◽  
Parameter Values

AbstractThe flow regime in the vicinity of oscillatory slender bodies, either an isolated one or a row of many bodies, immersed in viscous fluid (i.e. under creeping flow conditions) is studied. Applying the slender-body theory by distributing proper singularities on the bodies’ major axes yields reasonably accurate and easily computed solutions. The effect of the oscillations is revealed by comparisons with known Stokes flow solutions and is found to be most significant for motion along the normal direction. Streamline patterns associated with motion of a single body are characterized by formation and evolution of eddies. The motion of adjacent bodies results, with a reduction or an increase of the drag force exerted by each body depending on the direction of motion and the specific geometrical set-up. This dependence is demonstrated by parametric results for frequency of oscillations, number of bodies, their slenderness ratio and the spacing between them. Our method, being valid for a wide range of parameter values and for densely packed arrays of rods, enables simulation of realistic flapping of bristled wings of some tiny insects and of locomotion of flagella and ciliated micro-organisms, and might serve as an efficient tool in the design of minuscule vehicles. Its potency is demonstrated by a solution for the flapping of thrips.

Cutoff Threshold Decisions for Classification Algorithms with Risk Aversion

2021 ◽  
Author(s):  
Andrea C. Hupman
Keyword(s):  
Risk Aversion ◽  
Risk Attitude ◽  
Classification Algorithm ◽  
Classification Algorithms ◽  
Risk Averse ◽  
Optimal Cutoff ◽  
Data Set ◽  
Risk Neutral ◽  
Bayes Algorithm ◽  
Cutoff Threshold

Classification algorithms predict the class membership of an unknown record. Methods such as logistic regression or the naïve Bayes algorithm produce a score related to the likelihood that a record belongs to a particular class. A cutoff threshold is then defined to delineate the prediction of one class over another. This paper derives analytic results for the selection of an optimal cutoff threshold for a classification algorithm that is used to inform a two-action decision in the cases of risk aversion and risk neutrality. The results provide insight to how the optimal cutoff thresholds relate to the associated costs and the sensitivity and specificity of the algorithm for both the risk neutral and risk averse decision makers. The optimal risk averse threshold is not reliably above or below the optimal risk neutral threshold, but the relation depends on the parameters of a particular application. The results further show the risk averse optimal threshold is insensitive to the size of the data set or the magnitude of the costs, but instead is sensitive to the proportion of positive records in the data and the ratio of costs. Numeric examples and sensitivity analysis derive further insight. Results show the percent value gap from a misspecified risk attitude increases as the specificity of the classification algorithm decreases.

Convective and turbulent motions in non-precipitating Cu. Part 1: Method of separation of convective and turbulent motions

2021 ◽  
Author(s):  
Mark Pinsky ◽  
Eshkol Eytan ◽  
Ilan Koren ◽  
Orit Altaratz ◽  
Alexander Khain
Keyword(s):  
Velocity Field ◽  
Vertical Velocity ◽  
Isotropic Turbulence ◽  
Convective Velocity ◽  
Cloud Dynamics ◽  
Wide Range ◽  
Homogeneous And Isotropic Turbulence ◽  
Microphysical Processes ◽  
Bin Microphysics ◽  
Parameter Values

AbstractAtmospheric motions in clouds and cloud surrounding have a wide range of scales, from several kilometers to centimeters. These motions have different impacts on cloud dynamics and microphysics. Larger-scale motions (hereafter referred to as convective motions) are responsible for mass transport over distances comparable with cloud scale, while motions of smaller scales (hereafter referred to as turbulent motions) are stochastic and responsible for mixing and cloud dilution. This distinction substantially simplifies the analysis of dynamic and microphysical processes in clouds. The present research is Part 1 of the study aimed at describing the method for separating the motion scale into a convective component and a turbulent component. An idealized flow is constructed, which is a sum of an initially prescribed field of the convective velocity with updrafts in the cloud core and downdrafts outside the core, and a stochastic turbulent velocity field obeying the turbulent properties, including the -5/3 law and the 2/3 structure function law. A wavelet method is developed allowing separation of the velocity field into the convective and turbulent components, with parameter values being in a good agreement with those prescribed initially. The efficiency of the method is demonstrated by an example of a vertical velocity field of a cumulus cloud simulated using SAM with bin-microphysics and resolution of 10 m. It is shown that vertical velocity in clouds indeed can be represented as a sum of convective velocity (forming zone of cloud updrafts and subsiding shell) and a stochastic velocity obeying laws of homogeneous and isotropic turbulence.

scholarly journals Signaling pathways have an inherent need for noise to acquire information

2020 ◽  
Vol 21 (1) ◽  
Author(s):  
Eugenio Azpeitia ◽  
Eugenio P. Balanzario ◽  
Andreas Wagner
Keyword(s):  
Signaling Pathways ◽  
Information Acquisition ◽  
Cellular Level ◽  
Kinetic Properties ◽  
Positive Role ◽  
Binding Interactions ◽  
Reversible Binding ◽  
Wide Range ◽  
The One ◽  
Parameter Values

Abstract Background All living systems acquire information about their environment. At the cellular level, they do so through signaling pathways. Such pathways rely on reversible binding interactions between molecules that detect and transmit the presence of an extracellular cue or signal to the cell’s interior. These interactions are inherently stochastic and thus noisy. On the one hand, noise can cause a signaling pathway to produce the same response for different stimuli, which reduces the amount of information a pathway acquires. On the other hand, in processes such as stochastic resonance, noise can improve the detection of weak stimuli and thus the acquisition of information. It is not clear whether the kinetic parameters that determine a pathway’s operation cause noise to reduce or increase the acquisition of information. Results We analyze how the kinetic properties of the reversible binding interactions used by signaling pathways affect the relationship between noise, the response to a signal, and information acquisition. Our results show that, under a wide range of biologically sensible parameter values, a noisy dynamic of reversible binding interactions is necessary to produce distinct responses to different stimuli. As a consequence, noise is indispensable for the acquisition of information in signaling pathways. Conclusions Our observations go beyond previous work by showing that noise plays a positive role in signaling pathways, demonstrating that noise is essential when such pathways acquire information.

scholarly journals Content and Access Provision in a Discrete Competition Model

ORiON ◽  
2021 ◽  
Vol 37 (2) ◽  
Author(s):  
Petrus Potgieter ◽  
Bronwyn Howell
Keyword(s):  
Real Life ◽  
Consumer Surplus ◽  
Cost Savings ◽  
Product Category ◽  
Approximate Solutions ◽  
Competition Model ◽  
Differentiated Products ◽  
Single Product ◽  
Market Outcomes ◽  
Product Categories

The non-rival, non-excludable and infinitely expansible characteristics of digital goods with marginal cost of zero strongly favours the use of bundling strategies. Theoretical tractability requires most models in the current literature to make highly stylized assumptions, rarely observed or anticipated in the real-life situations, motivating inquiry. This paper considers a competition model in which: * the firms, consumers and differentiated products are finite in number; * prices are discrete and not continuous; * consumers may purchase multiple items in a single product category where the degree of complementarity or substitutability of the product categories can also vary across consumers; and * where consumer-specific cost savings are obtained when purchasing multiple items from the same firm. Approximate solutions are obtained through numerical simulation. Firms act in concert to maximise the total firm revenue. Our main finding is that the interplay between maximal firm revenue, consumer surplus and prices is very complex and that high firm revenue and high consumer surplus are not antithetic. It suggests also that consumer surplus and market concentration are not necessarily related. Many market outcomes that are observed may be due to chance rather than design as diverse outcomes can accompany situations that are, to the firms, difficult to distinguish.

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