Wine Futures: Pricing and Allocation as Levers Against Quality Uncertainty

2017 ◽  
pp. 113-139
Author(s):  
Tim Noparumpa ◽  
Burak Kazaz ◽  
Scott Webster
Keyword(s):  
Quality Uncertainty ◽  
Futures Pricing

Trust and quality uncertainty in global value chains

2020 ◽  
Vol 57-58 ◽  
pp. 100662
Author(s):  
Douglas Cumming ◽  
Ying Ge ◽  
Huiwen Lai
Keyword(s):  
Global Value Chains ◽  
Value Chains ◽  
Quality Uncertainty

scholarly journals What to expect when using globular clusters as tracers of the total mass distribution in Milky Way-mass galaxies

2021 ◽  
Vol 502 (2) ◽  
pp. 2828-2844
Author(s):  
Meghan E Hughes ◽  
Prashin Jethwa ◽  
Michael Hilker ◽  
Glenn van de Ven ◽  
Marie Martig ◽  
...  
Keyword(s):  
Dark Matter ◽  
Radial Distribution ◽  
Globular Clusters ◽  
Dominant Factor ◽  
Quality Uncertainty ◽  
Dynamical Models ◽  
Accuracy And Precision ◽  
The Galaxy ◽  
Dark Matter Distribution ◽  
Ideal Tracer

ABSTRACT Dynamical models allow us to connect the motion of a set of tracers to the underlying gravitational potential, and thus to the total (luminous and dark) matter distribution. They are particularly useful for understanding the mass and spatial distribution of dark matter (DM) in a galaxy. Globular clusters (GCs) are an ideal tracer population in dynamical models, since they are bright and can be found far out into the halo of galaxies. We aim to test how well Jeans-Anisotropic-MGE (JAM) models using GCs (positions and line-of-sight velocities) as tracers can constrain the mass and radial distribution of DM haloes. For this, we use the E-MOSAICS suite of 25 zoom-in simulations of L* galaxies. We find that the DM halo properties are reasonably well recovered by the JAM models. There is, however, a strong correlation between how well we recover the mass and the radial distribution of the DM and the number of GCs in the galaxy: the constraints get exponentially worse with fewer GCs, and at least 150 GCs are needed in order to guarantee that the JAM model will perform well. We find that while the data quality (uncertainty on the radial velocities) can be important, the number of GCs is the dominant factor in terms of the accuracy and precision of the measurements. This work shows promising results for these models to be used in extragalactic systems with a sample of more than 150 GCs.

Competitive Entry of Information Goods Under Quality Uncertainty

2021 ◽  
pp. 1-20
Author(s):  
Zan Zhang ◽  
Guofang Nan ◽  
Minqiang Li ◽  
Yong Tan
Keyword(s):  
Product Quality ◽  
New Product ◽  
High Price ◽  
Quality Uncertainty ◽  
Information Goods ◽  
Consumer Uncertainty ◽  
Willingness To Adopt ◽  
Marketing Activities ◽  
Very High

When confronted with a new product, consumers often find it difficult to predict how it will perform, and such uncertainty reduces consumers’ willingness to adopt the product. In this paper, we consider a market whereby consumers decide when and which product to buy, given that they know the product quality of the incumbent but are uncertain about that of the entrant. We investigate how consumer uncertainty about product quality affects firms’ behavior-based pricing and customer acquisition and retention dynamics. Using a two-period vertical model, we find that, under high-end encroachment, an increase in consumer uncertainty reduces the entrant’s profit and hurts the incumbent’s profit when the quality differential between the products is relatively small, whereas, under low-end encroachment, increasing uncertainty not only benefits the incumbent but also can favor the entrant. An important implication for entrants is that the marketing activities, which aim to reduce consumer uncertainty about product functionalities, may fail to improve profitability. We also find that the entrant lowers the price for uninformed customers and raises the price for repeat buyers under high-end encroachment but lowers the price for all customers under low-end encroachment. We further examine the subsidy strategy and show that, when the entrant’s product has a significant quality advantage and consumer uncertainty is high but not very high, the optimal strategy for the entrant is to acquire all consumers who do not buy from the incumbent by providing subsidies and to drop the low-valuation customers by means of a high price after their uncertainty is resolved.

scholarly journals Lower tick sizes and futures pricing efficiency: evidence from the emerging Malaysian market

2018 ◽  
Vol 53 (4) ◽  
pp. 1135-1163 ◽  
Author(s):  
Sunil S. Poshakwale ◽  
Jude W. Taunson ◽  
Anandadeep Mandal ◽  
Michael Theobald
Keyword(s):  
Pricing Efficiency ◽  
Futures Pricing
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