Evolving New Market Structures

2019 ◽  
pp. 183-203 ◽  
Author(s):  
Amin Shokri Gazafroudi ◽  
Miadreza Shafie-khah ◽  
Francisco Prieto-Castrillo ◽  
Saber Talari ◽  
Juan Manuel Corchado ◽  
...  
Keyword(s):  
Market Structures

On the First-Round Effects of International Food Price Shocks

2018 ◽  
Author(s):  
Rafael Portillo ◽  
Luis-Felipe Zanna
Keyword(s):  
Developing Countries ◽  
Open Economy ◽  
Small Open Economy ◽  
Food Price ◽  
Relative Price ◽  
Asset Market ◽  
Price Shocks ◽  
Market Structures ◽  
Model Features ◽  
Food Share

The chapter presents a small open-economy model to study the first-round effects of international food-price shocks in developing countries. First-round shocks are defined as changes in headline inflation that, holding core inflation constant, help implement relative price adjustments. The model features three goods (food, a generic traded good, and a non-traded good), varying degrees of tradability of the food basket, and alternative international asset market structures. First-round effects depend crucially on the asset market structure. Under complete markets, inter-temporal substitution prevails, making the inflationary impact of international food price shocks proportional to the food share in consumption, which in developing countries is typically large. Under financial autarky, the income channel is dominant, and first-round effects are instead proportional to the country’s food trade balance, which is typically small. The results cast some doubt on the view that international food price shocks inherently have large inflationary effects in developing countries.

The Incentives to, and Constraints upon, Product Innovation

2018 ◽  
Author(s):  
Paul Stoneman ◽  
Eleonora Bartoloni ◽  
Maurizio Baussola
Keyword(s):  
Survey Data ◽  
Product Innovation ◽  
Product Space ◽  
Driving Forces ◽  
Product Line ◽  
Decision Uncertainty ◽  
Market Structures ◽  
Product Innovations

This chapter explores the factors that affect the firm’s decision to undertake product innovation. The discussion encompasses the driving forces that encourage product innovation, for example innovation by others or the ageing of an existing product line; however, the basic rationale is the search for profits. The chapter also addresses decisions about: the extent of innovation in general; horizontal and vertical product innovations separately; and the location of innovations in product space. The role of market structures in the product innovation decision, uncertainty in the innovating environment, and issues relating to emulation and copying are also addressed. Constraints to product innovation that survey data indicate are most important—innovation costs, risk and finance, and the availability of qualified labour—are also addressed.

scholarly journals Why do informal markets remain informal: the role of tacit knowledge in an Indian footwear cluster

2021 ◽  
Author(s):  
Yugank Goyal ◽  
Klaus Heine
Keyword(s):  
Tacit Knowledge ◽  
Informal Markets ◽  
Market Institutions ◽  
Market Structures ◽  
Long Run ◽  
External Pressures ◽  
Propositional Form ◽  
The City

AbstractWhy do informal markets resist formalizing, even when the gains of doing so outweigh its costs in the long run? While a number of responses to this question have been advanced, we discover that part of the reason could be located in the tacit knowledge (attributed to Polanyi, Hayek) embedded in the marketplace, on which market institutions run. This factor is not fully explored yet. Tacit (idiosyncratic, inarticulate, nonconscious) knowledge is acquired personally through experience and cannot be transferred or conveyed to anyone. This is the knowledge we use to act without knowing it in a propositional form. We present the case of one of India’s largest informal footwear cluster, located in the city of Agra. We show that informal markets, hinged on tacit knowledge, cannot evolve easily and therefore may remain locked-in, despite external pressures or incentives to formalize. The study shows that efforts to overcome informality and reaping the benefits of formalized market structures cannot be done without taking cognizance of the sticky intangible knowledge on which these markets rest.

A market-based rationale for the privacy paradox

2021 ◽  
pp. 016344372110158
Author(s):  
Opeyemi Akanbi
Keyword(s):  
Social Media ◽  
Market Structures ◽  
Media Companies ◽  
The Social ◽  
Social Media Platforms ◽  
Privacy Paradox ◽  
The Individual ◽  
Privacy Risks ◽  
Social Collective

Moving beyond the current focus on the individual as the unit of analysis in the privacy paradox, this article examines the misalignment between privacy attitudes and online behaviors at the level of society as a collective. I draw on Facebook’s market performance to show how despite concerns about privacy, market structures drive user, advertiser and investor behaviors to continue to reward corporate owners of social media platforms. In this market-oriented analysis, I introduce the metaphor of elasticity to capture the responsiveness of demand for social media to the data (price) charged by social media companies. Overall, this article positions social media as inelastic, relative to privacy costs; highlights the role of the social collective in the privacy crises; and ultimately underscores the need for structural interventions in addressing privacy risks.

Lessons Learned from National Food Fortification Projects: Experiences from Morocco, Uzbekistan, and Vietnam

2012 ◽  
Vol 33 (4_suppl3) ◽  
pp. S281-S292 ◽  
Author(s):  
James P. Wirth ◽  
Arnaud Laillou ◽  
Fabian Rohner ◽  
Christine A. Northrop-Clewes ◽  
Barbara Macdonald ◽  
...  
Keyword(s):  
National Policy ◽  
Lessons Learned ◽  
Consumption Patterns ◽  
Primary Data ◽  
Micronutrient Deficiencies ◽  
Global Alliance ◽  
Market Structures ◽  
History Of ◽  
Data Source

Background Fortification of staple foods has been repeatedly recommended as an effective approach to reduce micronutrient deficiencies. With the increased number of fortification projects globally, there is a need to share practical lessons learned relating to their implementation and responses to project-related and external challenges. Objective To document the achievements, challenges, lessons learned, and management responses associated with national fortification projects in Morocco, Uzbekistan, and Vietnam. Methods Independent end-of-project evaluations conducted for each project served as the primary data source and contain the history of, and project activities undertaken for, each fortification project. Other sources, including national policy documents, project reports from the Global Alliance for Improved Nutrition (GAIN) and other stakeholders, industry assessments, and peer-reviewed articles, were used to document the current responses to challenges and future project plans. Results All projects had key achievements related to the development of fortification standards and the procurement of equipment for participating industry partners. Mandatory fortification of wheat flour was a key success in Morocco and Uzbekistan. Ensuring the quality of fortified foods was a common challenge experienced across the projects, as were shifts in consumption patterns and market structures. Adjustments were made to the projects' design to address the challenges faced. Conclusions National fortification projects are dynamic and must be continually modified in response to specific performance issues and broader shifts in market structure and consumption patterns.

Recalibrating the governance of remedial clauses in contract law

2020 ◽  
Vol 71 (3) ◽  
pp. 429-455
Author(s):  
Moshood Abdussalam
Keyword(s):  
Big Data ◽  
Market Power ◽  
Contract Law ◽  
Market Structures ◽  
Modern Times ◽  
Oligopolistic Market ◽  
Commercial Networks

Yawning gaps in bargaining powers between transacting parties have always been a source of concern in commercial relations and the legal governance of such relations. In modern times, the likely implications of gaps in bargaining powers are not only palpable as it concerns the affairs of transacting parties with weaker bargaining powers, but also on the welfare of society, at large. That is particularly so in this milieu of pervasive oligopolistic market structures, organised commercial networks, digitisation, and big data. The imperative to guard against the use of contractually agreed remedial clauses to consolidate market power and as tools for wealth extraction is the concern of this article. To this end, this article makes a case for a recalibration of the rule against penalties in contract law.

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